Filed January 26, 2024
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY10+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $61,779 |
Service code 27 · EIN 33-0818667 | Advisory (Plan) | $12,000 |
Employer contribution per participant is in the bottom quintile of the peer cohort.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Plan reported corrective distributions (failed ADP/ACP testing).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $56,454 | $79,184-28.7% | $102,438-44.9% | $74,546-24.3% |
| Participation rate | 93.2% | 74.8%+18.4pp | 76.5%+16.7pp | 67.2%+26.0pp |
| Annual return | 15.06% | 54.95%-39.9pp | 29.37%-14.3pp | 1366.03%-1351.0pp |
| Employer contribution / active EE | $386 | $2,362-83.7% | $3,024-87.2% | $2,624-85.3% |
| Participant deferral / active EE | $6,129 | $4,414+38.8% | $5,054+21.3% | $4,347+41.0% |
| Admin fee / account holder | $184 | $2,001-90.8% | $9,448-98.1% | $1,944-90.5% |