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| Provider | Service type | Compensation |
|---|---|---|
MINNESOTA LIFE INSURANCE COMPANY2+ years Service code 13 · EIN 41-0417830 | Contract Administrator | $920 |
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.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
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 | $41,422 | $87,834-52.8% | $133,975-69.1% | $62,881-34.1% |
| Participation rate | 36.5% | 83.4%-46.9pp | 87.1%-50.6pp | 69.3%-32.8pp |
| Annual return | 6.19% | 12.05%-5.9pp | 29.29%-23.1pp | 20.14%-13.9pp |
| Employer contribution / active EE | $0 | $3,482-100.0% | $5,211-100.0% | $2,281-100.0% |
| Participant deferral / active EE | $2,319 | $4,812-51.8% | $6,282-63.1% | $3,203-27.6% |
| Admin fee / account holder | $18 | $5,372-99.7% | $9,324-99.8% | $4,296-99.6% |