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| Provider | Service type | Compensation |
|---|---|---|
MINNESOTA LIFE INSURANCE COMPANY2+ years Service code 13 · EIN 41-0417830 | Contract Administrator | $1,524 |
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).
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 | $18,571 | $56,640-67.2% | $78,002-76.2% | $55,167-66.3% |
| Participation rate | 58.3% | 73.3%-15.0pp | 75.5%-17.2pp | 69.0%-10.7pp |
| Annual return | 7.67% | 2868.48%-2860.8pp | 425.99%-418.3pp | 169.23%-161.6pp |
| Employer contribution / active EE | $471 | $1,724-72.7% | $2,470-80.9% | $1,963-76.0% |
| Participant deferral / active EE | $1,532 | $2,778-44.9% | $3,497-56.2% | $3,054-49.8% |
| Admin fee / account holder | $51 | $467-89.1% | $5,481-99.1% | $504-89.9% |