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| Provider | Service type | Compensation |
|---|---|---|
MINNESOTA LIFE INSURANCE COMPANY3+ years Service code 13 · EIN 41-0417830 | Contract Administrator | $12,287 |
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.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
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 | $12,006 | $37,196-67.7% | $154,111-92.2% | $55,725-78.5% |
| Participation rate | 55.7% | 64.1%-8.4pp | 83.0%-27.4pp | 70.9%-15.2pp |
| Annual return | 8.38% | 1319.68%-1311.3pp | 735.18%-726.8pp | 244.93%-236.6pp |
| Employer contribution / active EE | $0 | $1,614-100.0% | $5,298-100.0% | $2,078-100.0% |
| Participant deferral / active EE | $629 | $2,068-69.6% | $5,081-87.6% | $3,356-81.3% |
| Admin fee / account holder | $45 | $102-55.5% | $13,411-99.7% | $115-60.8% |