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| Provider | Service type | Compensation |
|---|---|---|
MINNESOTA LIFE INSURANCE COMPANY5+ years Service code 13 · EIN 41-0417830 | Contract Administrator | $2,565 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Annual investment return is in the bottom quintile of the peer cohort.
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 | $80,206 | $81,474-1.6% | $133,956-40.1% | $73,488+9.1% |
| Participation rate | 54.9% | 76.4%-21.5pp | 79.8%-25.0pp | 70.7%-15.8pp |
| Annual return | 8.77% | 19.40%-10.6pp | 45.09%-36.3pp | 28.51%-19.7pp |
| Employer contribution / active EE | $939 | $2,209-57.5% | $3,919-76.0% | $2,270-58.6% |
| Participant deferral / active EE | $2,973 | $3,786-21.5% | $5,048-41.1% | $3,740-20.5% |
| Admin fee / account holder | $27 | $713-96.2% | $8,927-99.7% | $513-94.7% |