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| Provider | Service type | Compensation |
|---|---|---|
MINNESOTA LIFE INSURANCE COMPANY2+ years Service code 13 · EIN 41-0417830 | Contract Administrator | $661 |
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.
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 | $48,188 | $56,894-15.3% | $84,753-43.1% | $62,881-23.4% |
| Participation rate | 50.0% | 68.5%-18.5pp | 76.6%-26.6pp | 69.3%-19.3pp |
| Annual return | 5.75% | 6.30%-0.6pp | 22.78%-17.0pp | 20.14%-14.4pp |
| Employer contribution / active EE | $282 | $2,400-88.2% | $3,574-92.1% | $2,281-87.6% |
| Participant deferral / active EE | $1,731 | $2,709-36.1% | $3,712-53.4% | $3,203-46.0% |
| Admin fee / account holder | $8 | $3,581-99.8% | $5,333-99.8% | $4,296-99.8% |