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| Provider | Service type | Compensation |
|---|---|---|
MINNESOTA LIFE INSURANCE COMPANY4+ years Service code 13 · EIN 41-0417830 | Contract Administrator | $692 |
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.
Annual investment return is in the bottom quintile of the peer cohort.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
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 | $22,389 | $47,977-53.3% | $154,111-85.5% | $56,287-60.2% |
| Participation rate | 13.1% | 66.2%-53.1pp | 83.0%-70.0pp | 69.9%-56.8pp |
| Annual return | -7.02% | 3.54%-10.6pp | 735.18%-742.2pp | -9.96%+2.9pp |
| Employer contribution / active EE | $0 | $2,169-100.0% | $5,298-100.0% | $2,111-100.0% |
| Participant deferral / active EE | $228 | $2,392-90.5% | $5,081-95.5% | $3,350-93.2% |
| Admin fee / account holder | $104 | $438-76.2% | $13,411-99.2% | $521-80.0% |