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| Provider | Service type | Compensation |
|---|---|---|
MINNESOTA LIFE INSURANCE COMPANY2+ years Service code 13 · EIN 41-0417830 | Contract Administrator | $15,275 |
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.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $33,127 | $84,936-61.0% | $111,308-70.2% | $79,391-58.3% |
| Participation rate | 47.2% | 75.9%-28.6pp | 77.3%-30.1pp | 70.7%-23.5pp |
| Annual return | 10.23% | 17.45%-7.2pp | 54.67%-44.4pp | 116.88%-106.7pp |
| Employer contribution / active EE | $1,437 | $1,979-27.4% | $2,732-47.4% | $2,428-40.8% |
| Participant deferral / active EE | $2,204 | $3,888-43.3% | $4,487-50.9% | $4,046-45.5% |
| Admin fee / account holder | $125 | $537-76.7% | $7,965-98.4% | $627-80.0% |