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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY1+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $1,142 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Participant contribution per participant is in the bottom quintile of the peer cohort.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $695 | $61,166-98.9% | $185,849-99.6% | $79,391-99.1% |
| Participation rate | 33.7% | 66.6%-32.9pp | 81.7%-48.0pp | 70.7%-37.0pp |
| Annual return | 0.00% | 19.45%-19.4pp | 122.10%-122.1pp | 116.88%-116.9pp |
| Employer contribution / active EE | $0 | $2,321-100.0% | $5,169-100.0% | $2,428-100.0% |
| Participant deferral / active EE | $240 | $2,789-91.4% | $5,569-95.7% | $4,046-94.1% |
| Admin fee / account holder | $30 | $710-95.8% | $16,244-99.8% | $627-95.3% |