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| Provider | Service type | Compensation |
|---|---|---|
MINNESOTA LIFE INSURANCE COMPANY3+ years Service code 13 · EIN 41-0417830 | Contract Administrator | $1,480 |
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.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
Plan reported corrective distributions (failed ADP/ACP testing).
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 | $17,794 | $80,753-78.0% | $136,297-86.9% | $62,293-71.4% |
| Participation rate | 73.5% | 73.5%-0.1pp | 81.9%-8.5pp | 69.5%+3.9pp |
| Annual return | 18.80% | 35.83%-17.0pp | 5156.19%-5137.4pp | 28.90%-10.1pp |
| Employer contribution / active EE | $0 | $2,884-100.0% | $4,696-100.0% | $2,042-100.0% |
| Participant deferral / active EE | $1,816 | $5,164-64.8% | $6,247-70.9% | $3,169-42.7% |
| Admin fee / account holder | $8 | $525-98.5% | $9,244-99.9% | $479-98.4% |