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| Provider | Service type | Compensation |
|---|---|---|
MINNESOTA LIFE INSURANCE COMPANY2+ years Service code 13 · EIN 41-0417830 | Contract Administrator | $5,027 |
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.
Annual investment return is in the bottom quintile of the peer cohort.
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 | $36,368 | $75,183-51.6% | $123,894-70.6% | $55,167-34.1% |
| Participation rate | 23.0% | 72.8%-49.9pp | 81.4%-58.5pp | 69.0%-46.0pp |
| Annual return | 3.53% | 19.01%-15.5pp | 47.52%-44.0pp | 169.23%-165.7pp |
| Employer contribution / active EE | $0 | $2,823-100.0% | $4,617-100.0% | $1,963-100.0% |
| Participant deferral / active EE | $2,005 | $5,084-60.6% | $5,984-66.5% | $3,054-34.3% |
| Admin fee / account holder | $95 | $663-85.7% | $8,357-98.9% | $504-81.2% |