Filed December 2, 2020
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: MML INVESTORS SERVICES INC Service code 99 · EIN 04-2746212 | Other Fees | $43,867 |
Service code 64 · EIN 71-0294708 | Recordkeeping Fees | $17,750 |
Service code 13 88 BOYD AVENUE · EAST PROVIDENCE, RI 02914 | Contract Administrator | $5,330 |
MORNINGSTAR1 year Service code 27 | Advisory (Plan) | $1,568 |
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.
Employer 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.
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 | $29,406 | $112,686-73.9% | $170,043-82.7% | $80,157-63.3% |
| Participation rate | 23.7% | 87.4%-63.7pp | 87.0%-63.3pp | 72.9%-49.2pp |
| Annual return | 17.58% | 67.04%-49.5pp | 53.40%-35.8pp | 40.39%-22.8pp |
| Employer contribution / active EE | $460 | $4,481-89.7% | $6,790-93.2% | $2,977-84.6% |
| Participant deferral / active EE | $1,383 | $7,876-82.4% | $10,410-86.7% | $5,015-72.4% |
| Admin fee / account holder | $39 | $99-60.8% | $12,824-99.7% | $145-73.2% |