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| Provider | Service type | Compensation |
|---|---|---|
MINNESOTA LIFE INSURANCE COMPANY4+ years Service code 13 · EIN 41-0417830 | Contract Administrator | $1,156 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Plan reported corrective distributions (failed ADP/ACP testing).
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 | $10,853 | $47,977-77.4% | $154,114-93.0% | $56,287-80.7% |
| Participation rate | 24.3% | 66.2%-41.8pp | 83.0%-58.7pp | 69.9%-45.5pp |
| Annual return | -3.33% | 3.54%-6.9pp | 735.16%-738.5pp | -9.96%+6.6pp |
| Employer contribution / active EE | $0 | $2,169-100.0% | $5,298-100.0% | $2,111-100.0% |
| Participant deferral / active EE | $924 | $2,392-61.4% | $5,081-81.8% | $3,350-72.4% |
| Admin fee / account holder | $20 | $438-95.5% | $13,411-99.9% | $521-96.2% |