Filed November 30, 2020
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: MASSACHUSETTS MUTUAL LIFE INSURANCE Service code 49 · EIN 04-1590850 | Other Services | $19,688 |
Service code 53 · EIN 39-1468428 | Insurance Commissions | $7,243 |
BENEFIT ADMINISTRATION, INC.3+ years Service code 13 · EIN 39-1884254 | Contract Administrator | $4,566 |
MAP RETIREMENT, INC.1 year Service code 13 · EIN 39-1884254 | Contract Administrator | $3,494 |
THE VANGUARD GROUP, INC.1 year Service code 15 · EIN 23-1945930 | Recordkeeping | $180 |
Filed as: MASS MUTUAL LIFE INSURANCE COMPANY Service code 13 · EIN 04-1590850 | Contract Administrator | $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.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
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 | $151,546 | $70,083+116.2% | $59,887+153.1% | $55,725+172.0% |
| Participation rate | 4.9% | 78.4%-73.5pp | 74.7%-69.8pp | 70.9%-66.0pp |
| Annual return | -3.80% | 3.13%-6.9pp | 3.46%-7.3pp | 244.93%-248.7pp |
| Employer contribution / active EE | $1,106 | $2,878-61.6% | $2,722-59.4% | $2,078-46.8% |
| Participant deferral / active EE | $789 | $3,079-74.4% | $3,402-76.8% | $3,356-76.5% |
| Admin fee / account holder | $997 | $70+1317.7% | $3,591-72.2% | $115+765.4% |