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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY2+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $682 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer contribution per participant is in the bottom quintile of the peer cohort.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Plan reported corrective distributions (failed ADP/ACP testing).
Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $105,089 | $47,448+121.5% | $94,993+10.6% | $62,293+68.7% |
| Participation rate | 31.1% | 66.5%-35.4pp | 73.9%-42.8pp | 69.5%-38.4pp |
| Annual return | 15.10% | 22.64%-7.5pp | 27.14%-12.0pp | 28.90%-13.8pp |
| Employer contribution / active EE | $175 | $1,300-86.6% | $2,603-93.3% | $2,042-91.4% |
| Participant deferral / active EE | $1,616 | $2,375-31.9% | $3,317-51.3% | $3,169-49.0% |
| Admin fee / account holder | $17 | $434-96.1% | $4,960-99.7% | $479-96.4% |