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| Provider | Service type | Compensation |
|---|---|---|
MINNESOTA LIFE INSURANCE COMPANY2+ years Service code 13 · EIN 41-0417830 | Contract Administrator | $6,804 |
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.
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 | $49,812 | $60,165-17.2% | $74,184-32.9% | $55,167-9.7% |
| Participation rate | 31.1% | 74.2%-43.0pp | 76.6%-45.5pp | 69.0%-37.9pp |
| Annual return | 9.16% | 10.00%-0.8pp | 17.74%-8.6pp | 169.23%-160.1pp |
| Employer contribution / active EE | $0 | $1,600-100.0% | $2,370-100.0% | $1,963-100.0% |
| Participant deferral / active EE | $1,326 | $2,973-55.4% | $3,550-62.6% | $3,054-56.6% |
| Admin fee / account holder | $68 | $419-83.8% | $5,586-98.8% | $504-86.5% |