Filed January 14, 2016
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| Provider | Service type | Compensation |
|---|---|---|
MINNESOTA LIFE INSURANCE COMPANY6+ years Service code 13 · EIN 41-0417830 | Contract Administrator | $9,481 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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 | $65,428 | $56,095+16.6% | $178,503-63.3% | $90,274-27.5% |
| Participation rate | 50.2% | 65.6%-15.3pp | 81.9%-31.7pp | 73.4%-23.1pp |
| Annual return | 17.47% | 28.81%-11.3pp | 151.12%-133.6pp | 53.97%-36.5pp |
| Employer contribution / active EE | $1,463 | $1,572-7.0% | $5,011-70.8% | $2,523-42.0% |
| Participant deferral / active EE | $2,838 | $2,669+6.4% | $5,202-45.4% | $4,231-32.9% |
| Admin fee / account holder | $12 | $101-87.6% | $13,987-99.9% | $114-89.0% |