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| Provider | Service type | Compensation |
|---|---|---|
MINNESOTA LIFE INSURANCE COMPANY4+ years Service code 13 · EIN 41-0417830 | Contract Administrator | $25 |
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.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
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 | $39,645 | $61,214-35.2% | $83,322-52.4% | $56,287-29.6% |
| Participation rate | 36.4% | 72.6%-36.2pp | 77.8%-41.3pp | 69.9%-33.4pp |
| Annual return | -6.88% | 0.42%-7.3pp | 10.64%-17.5pp | -9.96%+3.1pp |
| Employer contribution / active EE | $0 | $1,925-100.0% | $3,379-100.0% | $2,111-100.0% |
| Participant deferral / active EE | $1,899 | $5,091-62.7% | $5,565-65.9% | $3,350-43.3% |
| Admin fee / account holder | $0 | $512-99.9% | $7,540-100.0% | $521-99.9% |