Filed September 28, 2016 (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 | $1,741 |
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.
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 | $23,214 | $70,667-67.1% | $123,105-81.1% | $52,331-55.6% |
| Participation rate | 74.4% | 83.7%-9.3pp | 86.8%-12.4pp | 68.1%+6.3pp |
| Annual return | 2.24% | 6.23%-4.0pp | 13.22%-11.0pp | 4.54%-2.3pp |
| Employer contribution / active EE | $719 | $2,946-75.6% | $5,151-86.0% | $1,882-61.8% |
| Participant deferral / active EE | $7,896 | $4,493+75.8% | $6,229+26.8% | $3,022+161.3% |
| Admin fee / account holder | $11 | $506-97.9% | $9,014-99.9% | $592-98.2% |