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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY2+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $794 |
Filed as: MERRILL LYNCH LIFE AGENCY INC Service code 49 · EIN 13-2808480 | Other Services | $0 |
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.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.
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 | $22,741 | $57,103-60.2% | $87,502-74.0% | $57,658-60.6% |
| Participation rate | 35.1% | 64.3%-29.2pp | 73.8%-38.7pp | 70.2%-35.1pp |
| Annual return | 73.39% | 12.71%+60.7pp | 12.21%+61.2pp | 5.13%+68.3pp |
| Employer contribution / active EE | $0 | $1,107-100.0% | $2,550-100.0% | $1,974-100.0% |
| Participant deferral / active EE | $2,682 | $2,250+19.2% | $3,149-14.8% | $3,061-12.4% |
| Admin fee / account holder | $8 | $281-97.3% | $4,221-99.8% | $95-91.8% |