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| Provider | Service type | Compensation |
|---|---|---|
Filed as: MASSACHUSETTS MUTUAL LIFE INSURANCE Service code 15 · EIN 04-1590850 | Recordkeeping | $19,062 |
Filed as: MERRILL LYNCH PIERCE FENNER SMITH I Service code 22 · EIN 13-5674085 | Insurance Broker | $5,617 |
Filed as: MERRILL LYNCH LIFE AGENCY Service code 22 · EIN 13-2802480 | Insurance Broker | $0 |
PENSYS, INC.1 year Filed as: PENSYS INC Service code 15 · EIN 68-0348235 | Recordkeeping | $0 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
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 | $37,330 | $91,179-59.1% | $178,499-79.1% | $79,852-53.3% |
| Participation rate | 42.7% | 69.2%-26.5pp | 81.9%-39.3pp | 69.6%-27.0pp |
| Annual return | 14.22% | 24.19%-10.0pp | 151.10%-136.9pp | 31.72%-17.5pp |
| Employer contribution / active EE | $2,281 | $3,256-29.9% | $5,011-54.5% | $2,471-7.7% |
| Participant deferral / active EE | $5,527 | $3,236+70.8% | $5,202+6.2% | $3,740+47.8% |
| Admin fee / account holder | $469 | $6,749-93.0% | $13,986-96.6% | $5,306-91.2% |