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| Provider | Service type | Compensation |
|---|---|---|
Filed as: MINNESOTA LIFE INSURANCE, COMPANY Service code 13 · EIN 41-0417830 | Contract Administrator | $10,435 |
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.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
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 | $14,112 | $136,307-89.6% | $177,848-92.1% | $73,497-80.8% |
| Participation rate | 48.1% | 86.1%-38.0pp | 87.7%-39.7pp | 70.7%-22.6pp |
| Annual return | 15.07% | 18.68%-3.6pp | 48.33%-33.3pp | 28.51%-13.4pp |
| Employer contribution / active EE | $1,655 | $3,712-55.4% | $5,919-72.0% | $2,270-27.1% |
| Participant deferral / active EE | $3,109 | $5,829-46.7% | $7,714-59.7% | $3,740-16.9% |
| Admin fee / account holder | $86 | $596-85.5% | $12,431-99.3% | $513-83.2% |