Filed April 27, 2023
See peer percentile detail. $4.99 for your first month.
Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.
See the 10-year trajectory. $4.99 for your first month.
Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.
| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY6+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $6,531 |
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.
The auditor signed off without reservation. This is the cleanest opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $13,482 | $58,879-77.1% | $178,490-92.4% | $73,488-81.7% |
| Participation rate | 23.5% | 66.2%-42.8pp | 81.9%-58.5pp | 70.7%-47.2pp |
| Annual return | 15.66% | 24.86%-9.2pp | 151.07%-135.4pp | 28.51%-12.9pp |
| Employer contribution / active EE | $388 | $2,236-82.6% | $5,011-92.3% | $2,270-82.9% |
| Participant deferral / active EE | $596 | $2,567-76.8% | $5,202-88.5% | $3,740-84.1% |
| Admin fee / account holder | $146 | $400-63.5% | $13,984-99.0% | $513-71.5% |