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| Provider | Service type | Compensation |
|---|---|---|
MINNESOTA LIFE INSURANCE COMPANY3+ years Service code 13 · EIN 41-0417830 | Contract Administrator | $4,715 |
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 | $28,750 | $69,305-58.5% | $82,312-65.1% | $69,631-58.7% |
| Participation rate | 69.7% | 80.3%-10.5pp | 76.9%-7.2pp | 70.7%-1.0pp |
| Annual return | 16.87% | 21.47%-4.6pp | 25.88%-9.0pp | 27571.02%-27554.2pp |
| Employer contribution / active EE | $335 | $1,887-82.2% | $2,428-86.2% | $2,032-83.5% |
| Participant deferral / active EE | $2,302 | $3,568-35.5% | $3,706-37.9% | $3,224-28.6% |
| Admin fee / account holder | $16 | $97-83.3% | $5,608-99.7% | $110-85.3% |