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| Provider | Service type | Compensation |
|---|---|---|
MINNESOTA LIFE INSURANCE COMPANY2+ years Service code 13 · EIN 41-0417830 | Contract Administrator | $8,792 |
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).
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 | $9,165 | $77,638-88.2% | $156,551-94.1% | $62,881-85.4% |
| Participation rate | 67.9% | 71.2%-3.3pp | 84.0%-16.1pp | 69.3%-1.4pp |
| Annual return | 1.57% | 50.33%-48.8pp | 32.23%-30.7pp | 20.14%-18.6pp |
| Employer contribution / active EE | $5,702 | $3,444+65.6% | $5,501+3.6% | $2,281+150.0% |
| Participant deferral / active EE | $0 | $3,046-100.0% | $4,871-100.0% | $3,203-100.0% |
| Admin fee / account holder | $61 | $5,561-98.9% | $13,028-99.5% | $4,296-98.6% |