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| Provider | Service type | Compensation |
|---|---|---|
Filed as: MASSMUTUAL LIFE INSURANCE CO. Service code 15 · EIN 04-1590850 | Recordkeeping | $3,555 |
Service code 27 · EIN 61-1732930 | Advisory (Plan) | $0 |
Service code 27 · EIN 36-3429599 | Advisory (Plan) | $0 |
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.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
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 | $15,651 | $60,165-74.0% | $74,184-78.9% | $55,167-71.6% |
| Participation rate | 69.5% | 74.2%-4.7pp | 76.6%-7.1pp | 69.0%+0.5pp |
| Annual return | 6.96% | 10.00%-3.0pp | 17.74%-10.8pp | 169.23%-162.3pp |
| Employer contribution / active EE | $430 | $1,600-73.1% | $2,370-81.9% | $1,963-78.1% |
| Participant deferral / active EE | $1,144 | $2,973-61.5% | $3,550-67.8% | $3,054-62.6% |
| Admin fee / account holder | $28 | $419-93.3% | $5,586-99.5% | $504-94.4% |