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 · SPRINGFIELD, MA 011029500 | Advisory (Plan) | $44,441 |
Filed as: PUTNAM INVESTMENTS Service code 64 ONE POST OFFICE SQUARE · BOSTON, MA 02109 | Recordkeeping Fees | $36,726 |
Filed as: TEAL, BECKER & CHIARAMONTE, CPAS PC Service code 13 7 WASHINGTON SQ · ALBANY, NY 12205 | Contract Administrator | $2,619 |
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
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 | $86,614 | $133,040-34.9% | $119,258-27.4% | $79,391+9.1% |
| Participation rate | 99.0% | 80.9%+18.1pp | 82.7%+16.3pp | 70.7%+28.3pp |
| Annual return | 12.60% | 20.05%-7.4pp | 30.69%-18.1pp | 116.88%-104.3pp |
| Employer contribution / active EE | $0 | $4,390-100.0% | $4,384-100.0% | $2,428-100.0% |
| Participant deferral / active EE | $4,907 | $6,448-23.9% | $6,111-19.7% | $4,046+21.3% |
| Admin fee / account holder | $366 | $686-46.6% | $7,226-94.9% | $627-41.5% |