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| Provider | Service type | Compensation |
|---|---|---|
MINNESOTA LIFE INSURANCE COMPANY6+ years Service code 13 · EIN 41-0417830 | Contract Administrator | $7,014 |
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.
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 | $35,500 | $58,101-38.9% | $118,925-70.1% | $73,409-51.6% |
| Participation rate | 44.2% | 56.1%-11.9pp | 75.4%-31.2pp | 72.2%-28.0pp |
| Annual return | 7.69% | 20.56%-12.9pp | 35.88%-28.2pp | 59.29%-51.6pp |
| Employer contribution / active EE | $380 | $1,445-73.7% | $3,263-88.3% | $2,234-83.0% |
| Participant deferral / active EE | $1,370 | $2,400-42.9% | $4,265-67.9% | $3,805-64.0% |
| Admin fee / account holder | $43 | $138-69.0% | $6,581-99.4% | $158-72.9% |