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| Provider | Service type | Compensation |
|---|---|---|
MINNESOTA LIFE INSURANCE COMPANY4+ years Service code 13 · EIN 41-0417830 | Contract Administrator | $300 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
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 | $10,044 | $45,079-77.7% | $69,461-85.5% | $72,983-86.2% |
| Participation rate | 59.4% | 68.5%-9.1pp | 74.6%-15.2pp | 69.5%-10.1pp |
| Annual return | 6.84% | 22.65%-15.8pp | 28.97%-22.1pp | 81.01%-74.2pp |
| Employer contribution / active EE | $848 | $2,055-58.7% | $2,779-69.5% | $2,440-65.2% |
| Participant deferral / active EE | $2,583 | $2,603-0.8% | $3,536-27.0% | $3,608-28.4% |
| Admin fee / account holder | $3 | $3,056-99.9% | $3,840-99.9% | $5,124-100.0% |