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| Provider | Service type | Compensation |
|---|---|---|
MINNESOTA LIFE INSURANCE COMPANY2+ years Service code 13 · EIN 41-0417830 | Contract Administrator | $4,058 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
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 | $15,829 | $46,732-66.1% | $156,551-89.9% | $55,167-71.3% |
| Participation rate | 64.5% | 65.8%-1.3pp | 84.0%-19.5pp | 69.0%-4.5pp |
| Annual return | 9.76% | 17.72%-8.0pp | 32.23%-22.5pp | 169.23%-159.5pp |
| Employer contribution / active EE | $972 | $2,105-53.8% | $5,501-82.3% | $1,963-50.5% |
| Participant deferral / active EE | $2,784 | $2,204+26.3% | $4,871-42.9% | $3,054-8.9% |
| Admin fee / account holder | $48 | $418-88.6% | $13,028-99.6% | $504-90.5% |