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| Provider | Service type | Compensation |
|---|---|---|
MINNESOTA LIFE INSURANCE COMPANY4+ years Service code 13 · EIN 41-0417830 | Contract Administrator | $14,640 |
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.
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 | $60,306 | $65,223-7.5% | $80,022-24.6% | $55,725+8.2% |
| Participation rate | 28.2% | 80.6%-52.4pp | 75.8%-47.6pp | 70.9%-42.7pp |
| Annual return | -4.26% | 7.59%-11.8pp | 11.22%-15.5pp | 244.93%-249.2pp |
| Employer contribution / active EE | $0 | $2,544-100.0% | $2,468-100.0% | $2,078-100.0% |
| Participant deferral / active EE | $965 | $3,881-75.1% | $3,686-73.8% | $3,356-71.2% |
| Admin fee / account holder | $166 | $114+45.7% | $6,521-97.4% | $115+44.4% |