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| Provider | Service type | Compensation |
|---|---|---|
MINNESOTA LIFE INSURANCE COMPANY2+ years Service code 13 · EIN 41-0417830 | Contract Administrator | $748 |
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 | $55,242 | $56,894-2.9% | $84,753-34.8% | $62,881-12.1% |
| Participation rate | 69.8% | 68.5%+1.3pp | 76.6%-6.8pp | 69.3%+0.5pp |
| Annual return | 9.12% | 6.30%+2.8pp | 22.78%-13.7pp | 20.14%-11.0pp |
| Employer contribution / active EE | $450 | $2,400-81.2% | $3,574-87.4% | $2,281-80.3% |
| Participant deferral / active EE | $2,234 | $2,709-17.5% | $3,712-39.8% | $3,203-30.3% |
| Admin fee / account holder | $8 | $3,581-99.8% | $5,333-99.8% | $4,296-99.8% |