Filed October 26, 2023
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: MASSACHUSETTS MUTUAL LIFE INS Service code 52 · EIN 04-1590850 | Indirect Investment Fees | $32,120 |
Service code 27 · EIN 47-1411118 | Advisory (Plan) | $19,737 |
Filed as: EMPOWER ANNUITY INSURANCE COMPANY Service code 64 · EIN 84-0467907 | Recordkeeping Fees | $9,581 |
Filed as: CBIZ BENEFITS & INS SERVICES INC. Service code 99 | Other Fees | $744 |
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $47,281 | $51,197-7.6% | $82,726-42.8% | $66,923-29.4% |
| Participation rate | 76.5% | 67.8%+8.7pp | 72.6%+3.9pp | 69.8%+6.7pp |
| Annual return | -14.18% | -9.64%-4.5pp | 701.33%-715.5pp | 1.58%-15.8pp |
| Employer contribution / active EE | $2,919 | $2,611+11.8% | $3,009-3.0% | $2,545+14.7% |
| Participant deferral / active EE | $4,179 | $3,458+20.9% | $4,394-4.9% | $4,237-1.4% |
| Admin fee / account holder | $306 | $416-26.4% | $5,328-94.3% | $593-48.4% |