Filed January 8, 2020
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| Provider | Service type | Compensation |
|---|---|---|
Service code 13 · EIN 42-0127290 | Contract Administrator | $162,848 |
Filed as: MML INSURANCE AGENCY LLC Service code 49 · EIN 04-3109325 | Other Services | $37,340 |
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 | $15,655 | $56,095-72.1% | $178,503-91.2% | $90,274-82.7% |
| Participation rate | 59.0% | 65.6%-6.6pp | 81.9%-22.9pp | 73.4%-14.4pp |
| Annual return | 19.65% | 28.81%-9.2pp | 151.12%-131.5pp | 53.97%-34.3pp |
| Employer contribution / active EE | $142 | $1,572-91.0% | $5,011-97.2% | $2,523-94.4% |
| Participant deferral / active EE | $1,214 | $2,669-54.5% | $5,202-76.7% | $4,231-71.3% |
| Admin fee / account holder | $193 | $101+91.5% | $13,987-98.6% | $114+69.0% |