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| Provider | Service type | Compensation |
|---|---|---|
Filed as: MASSACHUSETTS MUTUAL LIFE INSURANCE Service code 52 · EIN 04-1590850 | Indirect Investment Fees | $8,476 |
NOVA 401(K) ASSOCIATES1+ years Service code 13 · EIN 20-1181458 | Contract Administrator | $2,598 |
Participant 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.
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 | $13,351 | $65,263-79.5% | $90,223-85.2% | $55,191-75.8% |
| Participation rate | 83.7% | 79.0%+4.8pp | 79.0%+4.7pp | 69.2%+14.6pp |
| Annual return | 3.01% | 2.81%+0.2pp | 1.31%+1.7pp | 10.78%-7.8pp |
| Employer contribution / active EE | $2,754 | $4,153-33.7% | $4,378-37.1% | $1,899+45.0% |
| Participant deferral / active EE | $1,417 | $5,564-74.5% | $5,792-75.5% | $3,046-53.5% |
| Admin fee / account holder | $25 | $116-78.1% | $7,406-99.7% | $91-72.0% |