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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY3+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $702 |
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 | $106,610 | $53,596+98.9% | $90,655+17.6% | $64,181+66.1% |
| Participation rate | 33.0% | 64.5%-31.5pp | 74.0%-41.0pp | 69.6%-36.6pp |
| Annual return | 11.48% | 4.41%+7.1pp | 1.89%+9.6pp | 7.63%+3.8pp |
| Employer contribution / active EE | $179 | $1,503-88.1% | $2,532-92.9% | $2,381-92.5% |
| Participant deferral / active EE | $1,636 | $2,459-33.5% | $3,425-52.2% | $3,470-52.9% |
| Admin fee / account holder | $16 | $3,868-99.6% | $4,994-99.7% | $4,887-99.7% |