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| Provider | Service type | Compensation |
|---|---|---|
MINNESOTA LIFE INSURANCE COMPANY1+ years Service code 13 · EIN 41-0417830 | Contract Administrator | $1,891 |
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.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
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 | $12,931 | $46,745-72.3% | $60,547-78.6% | $52,331-75.3% |
| Participation rate | 35.6% | 58.6%-23.0pp | 68.0%-32.4pp | 68.1%-32.5pp |
| Annual return | -0.08% | 0.61%-0.7pp | 335.64%-335.7pp | 4.54%-4.6pp |
| Employer contribution / active EE | $6 | $1,259-99.6% | $2,419-99.8% | $1,882-99.7% |
| Participant deferral / active EE | $931 | $2,145-56.6% | $3,328-72.0% | $3,022-69.2% |
| Admin fee / account holder | $19 | $537-96.5% | $4,536-99.6% | $592-96.8% |