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| Provider | Service type | Compensation |
|---|---|---|
MINNESOTA LIFE INSURANCE COMPANY5+ years Service code 13 · EIN 41-0417830 | Contract Administrator | $420 |
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.
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 | $90,905 | $67,703+34.3% | $127,803-28.9% | $65,185+39.5% |
| Participation rate | 19.2% | 74.5%-55.3pp | 79.0%-59.8pp | 70.2%-51.0pp |
| Annual return | 20.11% | 24.36%-4.3pp | 26.14%-6.0pp | 29.38%-9.3pp |
| Employer contribution / active EE | $0 | $3,724-100.0% | $4,576-100.0% | $2,177-100.0% |
| Participant deferral / active EE | $1,272 | $4,787-73.4% | $6,023-78.9% | $3,514-63.8% |
| Admin fee / account holder | $16 | $618-97.4% | $9,399-99.8% | $847-98.1% |