Filed February 2, 2017
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY3+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $10,735 |
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.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
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 | $14,038 | $55,453-74.7% | $170,435-91.8% | $62,293-77.5% |
| Participation rate | 46.2% | 66.4%-20.2pp | 83.6%-37.4pp | 69.5%-23.4pp |
| Annual return | 15.37% | 21.38%-6.0pp | 205.94%-190.6pp | 28.90%-13.5pp |
| Employer contribution / active EE | $328 | $2,164-84.8% | $5,432-94.0% | $2,042-83.9% |
| Participant deferral / active EE | $1,071 | $2,303-53.5% | $4,939-78.3% | $3,169-66.2% |
| Admin fee / account holder | $107 | $455-76.4% | $13,881-99.2% | $479-77.6% |