Filed January 23, 2023
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: MASSACHUSETTS MUTUAL LIFE INSURANCE Service code 15 · EIN 04-1590850 | Recordkeeping | $445 |
RELIANCE TRUST COMPANY3+ years Service code 19 · EIN 58-1428634 | Securities Custodian | $132 |
MORNINGSTAR3+ years Filed as: MORNINGSTAR ASSOCIATES, LLC Service code 49 · EIN 36-4317381 | Other Services | $20 |
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 | $36,428 | $55,453-34.3% | $170,435-78.6% | $62,293-41.5% |
| Participation rate | 54.5% | 66.4%-11.8pp | 83.6%-29.1pp | 69.5%-15.0pp |
| Annual return | 13.45% | 21.38%-7.9pp | 205.94%-192.5pp | 28.90%-15.4pp |
| Employer contribution / active EE | $197 | $2,164-90.9% | $5,432-96.4% | $2,042-90.3% |
| Participant deferral / active EE | $2,548 | $2,303+10.7% | $4,939-48.4% | $3,169-19.6% |
| Admin fee / account holder | $3 | $455-99.4% | $13,881-100.0% | $479-99.4% |