Filed October 27, 2020
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| Provider | Service type | Compensation |
|---|---|---|
Service code 27 · EIN 20-2317470 | Advisory (Plan) | $7,296 |
Filed as: MASSACHUSETTS MUTUAL LIFE INSURANCE Service code 15 · EIN 04-1590850 | Recordkeeping | $2,283 |
MORNINGSTAR1 year Filed as: MORNINGSTAR ASSOCIATES, LLC Service code 49 · EIN 36-4317381 | Other Services | $21 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer contribution per participant is in the bottom quintile of the peer cohort.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
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 | $34,988 | $51,466-32.0% | $78,778-55.6% | $62,293-43.8% |
| Participation rate | 45.7% | 59.8%-14.1pp | 69.2%-23.5pp | 69.5%-23.8pp |
| Annual return | 26.98% | 19.96%+7.0pp | 35.62%-8.6pp | 28.90%-1.9pp |
| Employer contribution / active EE | $154 | $827-81.4% | $1,986-92.3% | $2,042-92.5% |
| Participant deferral / active EE | $1,672 | $2,147-22.1% | $2,958-43.5% | $3,169-47.2% |
| Admin fee / account holder | $28 | $489-94.2% | $5,134-99.5% | $479-94.1% |