Filed February 2, 2017
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY1+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $6,881 |
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).
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 | $14,462 | $46,360-68.8% | $147,618-90.2% | $52,331-72.4% |
| Participation rate | 36.8% | 64.9%-28.1pp | 84.6%-47.8pp | 68.1%-31.3pp |
| Annual return | -0.77% | 1.62%-2.4pp | 61.98%-62.7pp | 4.54%-5.3pp |
| Employer contribution / active EE | $0 | $2,126-100.0% | $5,565-100.0% | $1,882-100.0% |
| Participant deferral / active EE | $823 | $2,258-63.6% | $4,895-83.2% | $3,022-72.8% |
| Admin fee / account holder | $96 | $766-87.5% | $11,612-99.2% | $592-83.8% |