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| Provider | Service type | Compensation |
|---|---|---|
MINNESOTA LIFE INSURANCE COMPANY3+ years Service code 13 · EIN 41-0417830 | Contract Administrator | $6,090 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer 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).
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 | $25,328 | $48,064-47.3% | $78,778-67.8% | $69,631-63.6% |
| Participation rate | 46.4% | 61.6%-15.2pp | 69.2%-22.8pp | 70.7%-24.3pp |
| Annual return | 18.05% | 21.81%-3.8pp | 35.62%-17.6pp | 27571.02%-27553.0pp |
| Employer contribution / active EE | $10 | $744-98.7% | $1,986-99.5% | $2,032-99.5% |
| Participant deferral / active EE | $1,611 | $2,079-22.5% | $2,958-45.6% | $3,224-50.0% |
| Admin fee / account holder | $31 | $152-79.8% | $5,134-99.4% | $110-72.1% |