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| Provider | Service type | Compensation |
|---|---|---|
Filed as: MERRILL LYNCH PIERCE FENNER SMITH Service code 50 · EIN 13-5674085 | Direct Payment | $15,270 |
Filed as: MASSACHUSETTS MUTUAL LIFE INS. CO Service code 15 · EIN 04-1590850 | Recordkeeping | $8,644 |
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.
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).
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 | $39,766 | $55,122-27.9% | $104,639-62.0% | $73,497-45.9% |
| Participation rate | 29.7% | 67.7%-38.0pp | 74.1%-44.3pp | 70.7%-40.9pp |
| Annual return | 13.73% | 24.77%-11.0pp | 340.67%-326.9pp | 28.51%-14.8pp |
| Employer contribution / active EE | $761 | $1,464-48.1% | $2,682-71.6% | $2,270-66.5% |
| Participant deferral / active EE | $1,168 | $2,919-60.0% | $3,738-68.7% | $3,740-68.8% |
| Admin fee / account holder | $769 | $423+81.8% | $6,465-88.1% | $513+49.8% |