Filed November 17, 2017 (most recent of 2 filings on file)
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| Provider | Service type | Compensation |
|---|---|---|
MINNESOTA LIFE INSURANCE COMPANY4+ years Service code 13 · EIN 41-0417830 | Contract Administrator | $3,081 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Annual investment return 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.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
The auditor declined to give an opinion. This is usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $14,390 | $45,825-68.6% | $90,645-84.1% | $56,287-74.4% |
| Participation rate | 67.8% | 66.7%+1.1pp | 74.0%-6.2pp | 69.9%-2.0pp |
| Annual return | -12.04% | 38.64%-50.7pp | 1.88%-13.9pp | -9.96%-2.1pp |
| Employer contribution / active EE | $1,023 | $1,372-25.4% | $2,532-59.6% | $2,111-51.5% |
| Participant deferral / active EE | $2,670 | $2,562+4.2% | $3,425-22.0% | $3,350-20.3% |
| Admin fee / account holder | $21 | $413-95.0% | $4,994-99.6% | $521-96.0% |