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| Provider | Service type | Compensation |
|---|---|---|
MINNESOTA LIFE INSURANCE COMPANY3+ years Service code 13 · EIN 41-0417830 | Contract Administrator | $1,089 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer contribution per participant is in the bottom quintile of the peer cohort.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
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 | $65,696 | $64,359+2.1% | $90,161-27.1% | $70,126-6.3% |
| Participation rate | 62.2% | 70.4%-8.3pp | 76.9%-14.7pp | 69.5%-7.4pp |
| Annual return | 14.80% | 28.13%-13.3pp | 34.89%-20.1pp | 73.15%-58.3pp |
| Employer contribution / active EE | $0 | $2,046-100.0% | $3,318-100.0% | $2,343-100.0% |
| Participant deferral / active EE | $1,968 | $4,389-55.2% | $5,287-62.8% | $3,332-40.9% |
| Admin fee / account holder | $14 | $3,945-99.7% | $5,943-99.8% | $4,645-99.7% |