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| Provider | Service type | Compensation |
|---|---|---|
MINNESOTA LIFE INSURANCE COMPANY1+ years Service code 13 · EIN 41-0417830 | Contract Administrator | $13,442 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer 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 declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $12,188 | $46,360-73.7% | $147,617-91.7% | $52,331-76.7% |
| Participation rate | 42.3% | 64.9%-22.6pp | 84.6%-42.3pp | 68.1%-25.8pp |
| Annual return | -1.28% | 1.62%-2.9pp | 61.98%-63.3pp | 4.54%-5.8pp |
| Employer contribution / active EE | $163 | $2,126-92.3% | $5,564-97.1% | $1,882-91.3% |
| Participant deferral / active EE | $756 | $2,258-66.5% | $4,895-84.6% | $3,022-75.0% |
| Admin fee / account holder | $58 | $766-92.5% | $11,612-99.5% | $592-90.2% |