Filed November 30, 2022
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| Provider | Service type | Compensation |
|---|---|---|
METLIFE LIFE INSURANCE COMPANY1+ years Filed as: METROPOLITAN LIFE INSURANCE COMPANY Service code 64 300 DAVIDSON AVENUE · SOMERSET, NJ 08873 | Recordkeeping Fees | $37,573 |
NFP RETIREMENT INC1+ years Filed as: NFP CORPORATE SERVICES (MN) INC Service code 27 9655 SCHMIDT LAKE ROAD · PLYMOUTH, MN 55442 | Advisory (Plan) | $21,106 |
METLIFE LIFE INSURANCE COMPANY1+ years Filed as: METLIFE SECURITIES INC. Service code 55 1095 AVENUE OF THE AMERICAS · NEW YORK, NY 10036 | Other Commissions | $1,968 |
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.
Employer contribution per participant is in the bottom quintile of the peer cohort.
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 | $20,479 | $37,117-44.8% | $147,617-86.1% | $55,191-62.9% |
| Participation rate | 18.7% | 63.6%-44.9pp | 84.6%-65.9pp | 69.2%-50.5pp |
| Annual return | -0.50% | 3.44%-3.9pp | 61.98%-62.5pp | 10.78%-11.3pp |
| Employer contribution / active EE | $107 | $1,620-93.4% | $5,564-98.1% | $1,899-94.3% |
| Participant deferral / active EE | $495 | $1,985-75.0% | $4,895-89.9% | $3,046-83.7% |
| Admin fee / account holder | $166 | $86+93.7% | $11,612-98.6% | $91+82.6% |