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| Provider | Service type | Compensation |
|---|---|---|
MINNESOTA LIFE INSURANCE COMPANY6+ years Service code 13 · EIN 41-0417830 | Contract Administrator | $3,603 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer 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 signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $34,867 | $40,435-13.8% | $80,627-56.8% | $74,460-53.2% |
| Participation rate | 40.8% | 47.4%-6.6pp | 67.0%-26.2pp | 70.7%-30.0pp |
| Annual return | 9.35% | 165.19%-155.8pp | 936.76%-927.4pp | 34.38%-25.0pp |
| Employer contribution / active EE | $0 | $1,498-100.0% | $2,723-100.0% | $2,638-100.0% |
| Participant deferral / active EE | $1,222 | $2,673-54.3% | $4,443-72.5% | $4,530-73.0% |
| Admin fee / account holder | $21 | $721-97.0% | $5,381-99.6% | $348-93.8% |