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| Provider | Service type | Compensation |
|---|---|---|
MINNESOTA LIFE INSURANCE COMPANY5+ years Service code 13 · EIN 41-0417830 | Contract Administrator | $1,113 |
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 | $59,343 | $54,573+8.7% | $90,970-34.8% | $73,493-19.3% |
| Participation rate | 30.5% | 61.2%-30.7pp | 69.0%-38.5pp | 70.7%-40.2pp |
| Annual return | 14.53% | 16.69%-2.2pp | 134.58%-120.0pp | 28.51%-14.0pp |
| Employer contribution / active EE | $0 | $991-100.0% | $2,122-100.0% | $2,270-100.0% |
| Participant deferral / active EE | $1,948 | $2,517-22.6% | $3,373-42.2% | $3,740-47.9% |
| Admin fee / account holder | $20 | $521-96.3% | $5,960-99.7% | $513-96.2% |