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| Provider | Service type | Compensation |
|---|---|---|
MINNESOTA LIFE INSURANCE COMPANY1+ years Service code 13 · EIN 41-0417830 | Contract Administrator | $1,902 |
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.
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 | $11,500 | $37,117-69.0% | $147,617-92.2% | $55,191-79.2% |
| Participation rate | 56.8% | 63.6%-6.8pp | 84.6%-27.8pp | 69.2%-12.3pp |
| Annual return | 0.15% | 3.44%-3.3pp | 61.98%-61.8pp | 10.78%-10.6pp |
| Employer contribution / active EE | $0 | $1,620-100.0% | $5,564-100.0% | $1,899-100.0% |
| Participant deferral / active EE | $757 | $1,985-61.9% | $4,895-84.5% | $3,046-75.1% |
| Admin fee / account holder | $9 | $86-89.6% | $11,612-99.9% | $91-90.2% |