Filed January 8, 2020
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| Provider | Service type | Compensation |
|---|---|---|
Service code 13 · EIN 42-0127290 | Contract Administrator | $132,419 |
Filed as: MML INSURANCE AGENCY LLC Service code 49 · EIN 04-3109325 | Other Services | $19,873 |
Service code 27 · EIN 95-2755361 | Advisory (Plan) | $0 |
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.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Plan reported corrective distributions (failed ADP/ACP testing).
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 | $12,623 | $47,456-73.4% | $172,752-92.7% | $77,775-83.8% |
| Participation rate | 57.9% | 66.3%-8.4pp | 82.6%-24.8pp | 73.2%-15.3pp |
| Annual return | 25.22% | 35.57%-10.4pp | 802.97%-777.8pp | 32.58%-7.4pp |
| Employer contribution / active EE | $122 | $1,574-92.3% | $5,144-97.6% | $2,504-95.1% |
| Participant deferral / active EE | $1,158 | $2,560-54.8% | $5,198-77.7% | $3,966-70.8% |
| Admin fee / account holder | $161 | $81+99.5% | $13,955-98.8% | $100+61.2% |