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| Provider | Service type | Compensation |
|---|---|---|
MINNESOTA LIFE INSURANCE COMPANY6+ years Service code 13 · EIN 41-0417830 | Contract Administrator | $20,836 |
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.
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).
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 | $69,114 | $70,917-2.5% | $98,916-30.1% | $73,493-6.0% |
| Participation rate | 22.7% | 73.8%-51.1pp | 76.0%-53.3pp | 70.7%-48.0pp |
| Annual return | 7.41% | 34.18%-26.8pp | 196.45%-189.0pp | 28.51%-21.1pp |
| Employer contribution / active EE | $0 | $2,037-100.0% | $2,689-100.0% | $2,270-100.0% |
| Participant deferral / active EE | $632 | $3,501-82.0% | $4,245-85.1% | $3,740-83.1% |
| Admin fee / account holder | $293 | $535-45.1% | $6,642-95.6% | $513-42.8% |