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| Provider | Service type | Compensation |
|---|---|---|
MINNESOTA LIFE INSURANCE COMPANY4+ years Service code 13 · EIN 41-0417830 | Contract Administrator | $6,797 |
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.
Plan reported corrective distributions (failed ADP/ACP testing).
The auditor declined to give an opinion. This is usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $26,609 | $65,557-59.4% | $105,738-74.8% | $56,287-52.7% |
| Participation rate | 51.1% | 63.4%-12.3pp | 76.3%-25.3pp | 69.9%-18.8pp |
| Annual return | -1.91% | -1.32%-0.6pp | 6.27%-8.2pp | -9.96%+8.0pp |
| Employer contribution / active EE | $440 | $1,788-75.4% | $3,268-86.5% | $2,111-79.2% |
| Participant deferral / active EE | $1,449 | $2,418-40.1% | $4,080-64.5% | $3,350-56.7% |
| Admin fee / account holder | $37 | $561-93.3% | $6,913-99.5% | $521-92.8% |