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| Provider | Service type | Compensation |
|---|---|---|
Filed as: MINNESOTA LIFE INSURANCE, COMPANY Service code 13 · EIN 41-0417830 | Contract Administrator | $3,142 |
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.
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $16,522 | $102,661-83.9% | $151,639-89.1% | $66,938-75.3% |
| Participation rate | 41.0% | 85.5%-44.5pp | 87.5%-46.5pp | 69.8%-28.8pp |
| Annual return | -16.41% | -10.81%-5.6pp | 3.34%-19.7pp | 1.58%-18.0pp |
| Employer contribution / active EE | $1,860 | $4,184-55.6% | $6,165-69.8% | $2,545-26.9% |
| Participant deferral / active EE | $3,620 | $6,645-45.5% | $8,363-56.7% | $4,238-14.6% |
| Admin fee / account holder | $27 | $630-95.7% | $11,613-99.8% | $594-95.4% |