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| Provider | Service type | Compensation |
|---|---|---|
MINNESOTA LIFE INSURANCE COMPANY1+ years Service code 13 · EIN 41-0417830 | Contract Administrator | $15,235 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Participant 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.
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 | $12,594 | $62,132-79.7% | $185,861-93.2% | $73,497-82.9% |
| Participation rate | 37.6% | 67.8%-30.2pp | 78.0%-40.5pp | 70.7%-33.1pp |
| Annual return | 18.70% | 20.44%-1.7pp | 35.96%-17.3pp | 28.51%-9.8pp |
| Employer contribution / active EE | $829 | $1,681-50.7% | $4,088-79.7% | $2,270-63.5% |
| Participant deferral / active EE | $1,216 | $3,711-67.2% | $5,634-78.4% | $3,740-67.5% |
| Admin fee / account holder | $182 | $419-56.5% | $9,503-98.1% | $513-64.5% |