Filed December 20, 2021
Total covered: 2 employees
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: BENEFIT PLANS ADMIN SERVICES Service code 15 · EIN 16-1503696 | Recordkeeping | $20,998 |
PENSIONMARK FINANCIAL GROUP LLC6+ years Filed as: PENSIONMARK FINANCIAL GROUP Service code 27 · EIN 61-1758632 | Advisory (Plan) | $16,489 |
Filed as: MASS MUTUAL LIFE INS CO Service code 64 · EIN 04-1590850 | Recordkeeping Fees | $8,575 |
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.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Annual investment return is in the bottom quintile of the peer cohort.
Plan reported corrective distributions (failed ADP/ACP testing).
The auditor declined to give an opinion. This is usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $46,304 | $121,341-61.8% | $189,513-75.6% | $79,386-41.7% |
| Participation rate | 98.1% | 86.1%+12.0pp | 87.8%+10.3pp | 70.7%+27.4pp |
| Annual return | 12.42% | 21.08%-8.7pp | 555.15%-542.7pp | 116.85%-104.4pp |
| Employer contribution / active EE | $1,276 | $3,915-67.4% | $6,162-79.3% | $2,427-47.4% |
| Participant deferral / active EE | $3,326 | $6,395-48.0% | $8,221-59.5% | $4,046-17.8% |
| Admin fee / account holder | $395 | $651-39.4% | $12,045-96.7% | $626-37.0% |