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| Provider | Service type | Compensation |
|---|---|---|
MINNESOTA LIFE INSURANCE COMPANY3+ years Service code 13 · EIN 41-0417830 | Contract Administrator | $6,295 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer 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.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
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 | $12,351 | $65,376-81.1% | $87,104-85.8% | $65,185-81.1% |
| Participation rate | 36.3% | 75.3%-39.1pp | 76.9%-40.6pp | 70.2%-33.9pp |
| Annual return | 30.69% | 31.27%-0.6pp | 28.19%+2.5pp | 29.38%+1.3pp |
| Employer contribution / active EE | $363 | $1,822-80.1% | $2,521-85.6% | $2,177-83.3% |
| Participant deferral / active EE | $1,806 | $3,388-46.7% | $4,048-55.4% | $3,514-48.6% |
| Admin fee / account holder | $68 | $520-86.8% | $7,491-99.1% | $847-91.9% |