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| Provider | Service type | Compensation |
|---|---|---|
MINNESOTA LIFE INSURANCE COMPANY4+ years Service code 13 · EIN 41-0417830 | Contract Administrator | $1,085 |
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.
Annual investment return is in the bottom quintile of the peer cohort.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
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 | $21,244 | $43,999-51.7% | $79,476-73.3% | $55,725-61.9% |
| Participation rate | 12.4% | 66.9%-54.5pp | 73.3%-60.9pp | 70.9%-58.4pp |
| Annual return | -6.93% | 1.81%-8.7pp | 718.21%-725.1pp | 244.93%-251.9pp |
| Employer contribution / active EE | $8 | $1,830-99.6% | $2,800-99.7% | $2,078-99.6% |
| Participant deferral / active EE | $966 | $2,538-62.0% | $3,704-73.9% | $3,356-71.2% |
| Admin fee / account holder | $15 | $118-87.5% | $5,113-99.7% | $115-87.3% |