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| Provider | Service type | Compensation |
|---|---|---|
MINNESOTA LIFE INSURANCE COMPANY1+ years Service code 13 · EIN 41-0417830 | Contract Administrator | $1,348 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Plan reported corrective distributions (failed ADP/ACP testing).
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 | $28,833 | $45,283-36.3% | $155,789-81.5% | $52,331-44.9% |
| Participation rate | 67.2% | 62.2%+5.0pp | 76.1%-8.9pp | 68.1%-0.9pp |
| Annual return | 2.18% | 1.80%+0.4pp | 71.54%-69.4pp | 4.54%-2.4pp |
| Employer contribution / active EE | $396 | $1,329-70.2% | $3,839-89.7% | $1,882-78.9% |
| Participant deferral / active EE | $2,866 | $2,854+0.4% | $4,798-40.3% | $3,022-5.2% |
| Admin fee / account holder | $14 | $981-98.5% | $7,477-99.8% | $592-97.6% |