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| Provider | Service type | Compensation |
|---|---|---|
MINNESOTA LIFE INSURANCE COMPANY1+ years Service code 13 · EIN 41-0417830 | Contract Administrator | $6,704 |
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.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
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 | $8,838 | $37,196-76.2% | $154,111-94.3% | $55,725-84.1% |
| Participation rate | 66.8% | 64.1%+2.8pp | 83.0%-16.2pp | 70.9%-4.0pp |
| Annual return | -7.32% | 1319.68%-1327.0pp | 735.18%-742.5pp | 244.93%-252.3pp |
| Employer contribution / active EE | $1,425 | $1,614-11.7% | $5,298-73.1% | $2,078-31.4% |
| Participant deferral / active EE | $1,931 | $2,068-6.6% | $5,081-62.0% | $3,356-42.4% |
| Admin fee / account holder | $22 | $102-78.6% | $13,411-99.8% | $115-81.2% |