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| Provider | Service type | Compensation |
|---|---|---|
MINNESOTA LIFE INSURANCE COMPANY1+ years Service code 13 · EIN 41-0417830 | Contract Administrator | $498 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Participant 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 | $20,652 | $80,177-74.2% | $123,894-83.3% | $57,658-64.2% |
| Participation rate | 49.8% | 74.4%-24.6pp | 81.4%-31.6pp | 70.2%-20.4pp |
| Annual return | 0.00% | 17.90%-17.9pp | 47.52%-47.5pp | 5.13%-5.1pp |
| Employer contribution / active EE | $998 | $2,913-65.7% | $4,617-78.4% | $1,974-49.4% |
| Participant deferral / active EE | $1,737 | $5,130-66.1% | $5,984-71.0% | $3,061-43.3% |
| Admin fee / account holder | $3 | $106-97.5% | $8,357-100.0% | $95-97.2% |