Filed May 25, 2021
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY6+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $200 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
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 | $23,867 | $54,573-56.3% | $90,970-73.8% | $73,497-67.5% |
| Participation rate | 29.5% | 61.2%-31.7pp | 69.0%-39.6pp | 70.7%-41.2pp |
| Annual return | 17.52% | 16.69%+0.8pp | 134.60%-117.1pp | 28.51%-11.0pp |
| Employer contribution / active EE | $0 | $991-100.0% | $2,122-100.0% | $2,270-100.0% |
| Participant deferral / active EE | $1,472 | $2,517-41.5% | $3,373-56.4% | $3,740-60.6% |
| Admin fee / account holder | $5 | $521-99.0% | $5,961-99.9% | $513-99.0% |