Filed January 23, 2023 (most recent of 2 filings on file)
Total covered: 2 employees
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: MASSACHUSETTS MUTUAL LIFE INS COMP Service code 27 DBA MML INVESTORS · CINCINNATI, OH 452771115 | Advisory (Plan) | $30,937 |
Filed as: PUTNAM INVESTMENTS Service code 64 ONE POST OFFICE SQUARE · BOSTON, MA 02109 | Recordkeeping Fees | $26,898 |
Filed as: TEAL, BECKER & CHIARAMONTE, CPAS PC Service code 13 7 WASHINGTON SQ · ALBANY, NY 12205 | Contract Administrator | $10,780 |
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
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 | $63,564 | $103,685-38.7% | $105,387-39.7% | $65,186-2.5% |
| Participation rate | 99.5% | 83.2%+16.3pp | 82.6%+17.0pp | 70.2%+29.3pp |
| Annual return | 21.83% | 23.88%-2.0pp | 26.82%-5.0pp | 29.39%-7.6pp |
| Employer contribution / active EE | $0 | $3,842-100.0% | $4,213-100.0% | $2,177-100.0% |
| Participant deferral / active EE | $3,501 | $5,634-37.9% | $5,502-36.4% | $3,514-0.4% |
| Admin fee / account holder | $300 | $399-24.7% | $6,559-95.4% | $847-64.6% |