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| Provider | Service type | Compensation |
|---|---|---|
MINNESOTA LIFE INSURANCE COMPANY1+ years Service code 13 · EIN 41-0417830 | Contract Administrator | $13,181 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
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 | $12,947 | $51,288-74.8% | $81,991-84.2% | $73,412-82.4% |
| Participation rate | 64.7% | 64.0%+0.7pp | 69.3%-4.6pp | 72.2%-7.5pp |
| Annual return | 0.00% | 29.48%-29.5pp | 41.31%-41.3pp | 59.30%-59.3pp |
| Employer contribution / active EE | $2,648 | $1,487+78.1% | $2,498+6.0% | $2,234+18.5% |
| Participant deferral / active EE | $4,928 | $2,715+81.5% | $3,722+32.4% | $3,806+29.5% |
| Admin fee / account holder | $51 | $125-58.9% | $5,665-99.1% | $158-67.4% |