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| Provider | Service type | Compensation |
|---|---|---|
MINNESOTA LIFE INSURANCE COMPANY2+ years Service code 13 · EIN 41-0417830 | Contract Administrator | $16,281 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Participant 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 | $26,446 | $71,802-63.2% | $133,975-80.3% | $57,658-54.1% |
| Participation rate | 62.5% | 85.5%-23.0pp | 87.1%-24.6pp | 70.2%-7.8pp |
| Annual return | 8.01% | 13.51%-5.5pp | 29.29%-21.3pp | 5.13%+2.9pp |
| Employer contribution / active EE | $0 | $3,161-100.0% | $5,211-100.0% | $1,974-100.0% |
| Participant deferral / active EE | $1,441 | $4,606-68.7% | $6,282-77.1% | $3,061-52.9% |
| Admin fee / account holder | $53 | $88-39.7% | $9,324-99.4% | $95-44.1% |