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| Provider | Service type | Compensation |
|---|---|---|
MINNESOTA LIFE INSURANCE COMPANY7+ years Service code 13 · EIN 41-0417830 | Contract Administrator | $6,094 |
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.
Plan reported corrective distributions (failed ADP/ACP testing).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $29,667 | $99,168-70.1% | $96,534-69.3% | $74,460-60.2% |
| Participation rate | 40.8% | 80.7%-39.8pp | 76.0%-35.1pp | 70.7%-29.9pp |
| Annual return | 21.55% | 22.40%-0.8pp | 25.88%-4.3pp | 34.38%-12.8pp |
| Employer contribution / active EE | $501 | $2,570-80.5% | $2,965-83.1% | $2,638-81.0% |
| Participant deferral / active EE | $2,710 | $4,936-45.1% | $4,851-44.1% | $4,530-40.2% |
| Admin fee / account holder | $42 | $225-81.3% | $8,253-99.5% | $348-87.9% |