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| Provider | Service type | Compensation |
|---|---|---|
MINNESOTA LIFE INSURANCE COMPANY1+ years Service code 13 · EIN 41-0417830 | Contract Administrator | $6,201 |
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.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
Plan reported corrective distributions (failed ADP/ACP testing).
The auditor declined to give an opinion. This is usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $7,228 | $37,117-80.5% | $147,614-95.1% | $55,191-86.9% |
| Participation rate | 66.8% | 63.6%+3.2pp | 84.6%-17.8pp | 69.2%-2.3pp |
| Annual return | 2.68% | 3.44%-0.8pp | 61.98%-59.3pp | 10.78%-8.1pp |
| Employer contribution / active EE | $96 | $1,620-94.1% | $5,564-98.3% | $1,899-95.0% |
| Participant deferral / active EE | $1,846 | $1,985-7.0% | $4,895-62.3% | $3,046-39.4% |
| Admin fee / account holder | $14 | $86-84.1% | $11,611-99.9% | $91-85.0% |