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| Provider | Service type | Compensation |
|---|---|---|
MINNESOTA LIFE INSURANCE COMPANY4+ years Service code 13 · EIN 41-0417830 | Contract Administrator | $1,896 |
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.
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 | $26,802 | $35,485-24.5% | $74,549-64.0% | $55,725-51.9% |
| Participation rate | 63.1% | 62.5%+0.6pp | 69.1%-6.1pp | 70.9%-7.8pp |
| Annual return | -6.01% | 0.72%-6.7pp | 32.53%-38.5pp | 244.93%-250.9pp |
| Employer contribution / active EE | $122 | $777-84.3% | $1,961-93.8% | $2,078-94.1% |
| Participant deferral / active EE | $1,700 | $2,181-22.1% | $3,108-45.3% | $3,356-49.4% |
| Admin fee / account holder | $47 | $114-58.5% | $5,059-99.1% | $115-58.8% |