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| Provider | Service type | Compensation |
|---|---|---|
MINNESOTA LIFE INSURANCE COMPANY4+ years Service code 13 · EIN 41-0417830 | Contract Administrator | $1,218 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll 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 declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $41,318 | $49,138-15.9% | $84,021-50.8% | $65,185-36.6% |
| Participation rate | 35.3% | 60.7%-25.4pp | 69.0%-33.7pp | 70.2%-34.9pp |
| Annual return | 19.97% | 23.00%-3.0pp | 71.32%-51.4pp | 29.38%-9.4pp |
| Employer contribution / active EE | $0 | $914-100.0% | $1,984-100.0% | $2,177-100.0% |
| Participant deferral / active EE | $1,659 | $2,397-30.8% | $3,239-48.8% | $3,514-52.8% |
| Admin fee / account holder | $18 | $543-96.7% | $6,102-99.7% | $847-97.9% |