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| Provider | Service type | Compensation |
|---|---|---|
MINNESOTA LIFE INSURANCE COMPANY7+ years Service code 13 · EIN 41-0417830 | Contract Administrator | $7,720 |
Service code 10 · EIN 77-0573994 | Accounting | $7,290 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Participant contribution per participant is in the bottom quintile of the peer cohort.
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 | $68,365 | $105,200-35.0% | $159,474-57.1% | $85,847-20.4% |
| Participation rate | 32.2% | 75.8%-43.6pp | 82.8%-50.6pp | 69.3%-37.1pp |
| Annual return | 13.00% | 45.08%-32.1pp | 263.68%-250.7pp | 318.61%-305.6pp |
| Employer contribution / active EE | $5,732 | $3,319+72.7% | $4,831+18.7% | $2,565+123.5% |
| Participant deferral / active EE | $2,111 | $5,946-64.5% | $7,353-71.3% | $3,952-46.6% |
| Admin fee / account holder | $116 | $6,934-98.3% | $10,802-98.9% | $6,261-98.1% |