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| Provider | Service type | Compensation |
|---|---|---|
Service code 15 · EIN 16-1503696 | Recordkeeping | $25,911 |
Filed as: FRINGE BENEFITS DESIGN OF MINNSOTA Service code 15 · EIN 41-1276678 | Recordkeeping | $8,915 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Annual investment return is in the bottom quintile of the peer cohort.
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 | $51,118 | $61,356-16.7% | $149,696-65.9% | $71,511-28.5% |
| Participation rate | 63.3% | 62.5%+0.8pp | 78.8%-15.4pp | 67.9%-4.6pp |
| Annual return | 9.16% | 35.86%-26.7pp | 134.46%-125.3pp | 28.86%-19.7pp |
| Employer contribution / active EE | $1,786 | $2,382-25.0% | $4,821-63.0% | $2,589-31.0% |
| Participant deferral / active EE | $2,197 | $2,920-24.8% | $5,682-61.3% | $4,291-48.8% |
| Admin fee / account holder | $198 | $1,263-84.4% | $13,212-98.5% | $1,588-87.6% |