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| Provider | Service type | Compensation |
|---|---|---|
MINNESOTA LIFE INSURANCE COMPANY3+ years Service code 13 · EIN 41-0417830 | Contract Administrator | $3,882 |
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 | $21,144 | $55,453-61.9% | $170,435-87.6% | $62,293-66.1% |
| Participation rate | 58.2% | 66.4%-8.2pp | 83.6%-25.4pp | 69.5%-11.3pp |
| Annual return | 15.15% | 21.38%-6.2pp | 205.94%-190.8pp | 28.90%-13.7pp |
| Employer contribution / active EE | $1,033 | $2,164-52.2% | $5,432-81.0% | $2,042-49.4% |
| Participant deferral / active EE | $2,996 | $2,303+30.1% | $4,939-39.3% | $3,169-5.5% |
| Admin fee / account holder | $43 | $455-90.5% | $13,881-99.7% | $479-91.0% |