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| Provider | Service type | Compensation |
|---|---|---|
MINNESOTA LIFE INSURANCE COMPANY2+ years Service code 13 · EIN 41-0417830 | Contract Administrator | $4,305 |
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.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
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 | $0 | $55,790-100.0% | $76,667-100.0% | $67,582-100.0% |
| Participation rate | 0.0% | 71.1%-71.1pp | 72.1%-72.1pp | 71.3%-71.3pp |
| Annual return | 35.59% | 64.45%-28.9pp | 1166.74%-1131.1pp | 378.57%-343.0pp |
| Employer contribution / active EE | $554 | $1,810-69.4% | $2,303-76.0% | $2,148-74.2% |
| Participant deferral / active EE | $927 | $2,875-67.8% | $3,336-72.2% | $3,539-73.8% |
| Admin fee / account holder | $0 | $159-100.0% | $6,423-100.0% | $142-100.0% |