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| Provider | Service type | Compensation |
|---|---|---|
MINNESOTA LIFE INSURANCE COMPANY4+ years Service code 13 · EIN 41-0417830 | Contract Administrator | $8,590 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll 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).
Plan reported corrective distributions (failed ADP/ACP testing).
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.
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 | $24,821 | $41,467-40.1% | $67,313-63.1% | $55,725-55.5% |
| Participation rate | 29.1% | 62.5%-33.4pp | 69.1%-40.0pp | 70.9%-41.8pp |
| Annual return | -1.52% | 0.82%-2.3pp | -4.08%+2.6pp | 244.93%-246.5pp |
| Employer contribution / active EE | $258 | $1,316-80.4% | $2,566-90.0% | $2,078-87.6% |
| Participant deferral / active EE | $860 | $2,399-64.2% | $3,568-75.9% | $3,356-74.4% |
| Admin fee / account holder | $58 | $102-42.7% | $4,507-98.7% | $115-49.3% |