Filed November 17, 2017 (most recent of 2 filings on file)
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| Provider | Service type | Compensation |
|---|---|---|
MINNESOTA LIFE INSURANCE COMPANY1+ years Service code 13 · EIN 41-0417830 | Contract Administrator | $1,223 |
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).
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 | $5,507 | $38,595-85.7% | $80,004-93.1% | $52,331-89.5% |
| Participation rate | 56.1% | 64.5%-8.5pp | 73.0%-17.0pp | 68.1%-12.1pp |
| Annual return | 24.43% | 2.04%+22.4pp | 7.63%+16.8pp | 4.54%+19.9pp |
| Employer contribution / active EE | $720 | $1,133-36.5% | $2,473-70.9% | $1,882-61.8% |
| Participant deferral / active EE | $1,566 | $2,318-32.4% | $3,204-51.1% | $3,022-48.2% |
| Admin fee / account holder | $12 | $304-95.9% | $5,033-99.8% | $592-97.9% |