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| Provider | Service type | Compensation |
|---|---|---|
MINNESOTA LIFE INSURANCE COMPANY5+ years Service code 13 · EIN 41-0417830 | Contract Administrator | $4,696 |
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.
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 | $24,316 | $62,928-61.4% | $172,752-85.9% | $67,579-64.0% |
| Participation rate | 9.0% | 64.5%-55.4pp | 82.6%-73.6pp | 71.3%-62.2pp |
| Annual return | 22.78% | 30.36%-7.6pp | 802.97%-780.2pp | 378.56%-355.8pp |
| Employer contribution / active EE | $0 | $1,636-100.0% | $5,144-100.0% | $2,148-100.0% |
| Participant deferral / active EE | $151 | $2,145-92.9% | $5,198-97.1% | $3,539-95.7% |
| Admin fee / account holder | $92 | $167-44.7% | $13,955-99.3% | $142-35.3% |