Filed October 24, 2018
Total covered: 2 employees
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: MASSMUTUAL LIFE INSURANCE CO. Service code 15 · EIN 04-1590850 | Recordkeeping | $210 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
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 | $9,525 | $46,360-79.5% | $147,617-93.5% | $52,331-81.8% |
| Participation rate | 58.2% | 64.9%-6.7pp | 84.6%-26.4pp | 68.1%-9.9pp |
| Annual return | 1.88% | 1.62%+0.3pp | 61.98%-60.1pp | 4.54%-2.7pp |
| Employer contribution / active EE | $995 | $2,126-53.2% | $5,564-82.1% | $1,882-47.1% |
| Participant deferral / active EE | $1,315 | $2,258-41.8% | $4,895-73.1% | $3,022-56.5% |
| Admin fee / account holder | $1 | $766-99.9% | $11,612-100.0% | $592-99.8% |