Filed January 30, 2017
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: MASSACHUSETTS MUTUAL LIFE INSURANCE Service code 62 · EIN 04-1590850 | Recordkeeping fees; Float revenue | $36,512 |
Filed as: FIRST PARTY ADMINISTRATORS Service code 14 · EIN 46-2023154 | Plan Administrator | $6,838 |
Filed as: EMPOWER ANNUITY INS CO OF AMERICA Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111 | Recordkeeping Fees | $6,500 |
MY BENEFITS, LLC6+ years Filed as: MY BENEFITS LLC Service code 13 · EIN 45-2098380 PO BOX 745680 · ATLANTA, GA 303745680 | Contract Administrator | $1,300 |
LPL FINANCIAL3 years Filed as: LPL FINANCIAL CORPORATION Service code 53 · EIN 95-2834236 PO BOX 509026 · SAN DIEGO, CA 921509026 | Insurance Commissions | $0 |
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.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $9,593 | $46,332-79.3% | $143,797-93.3% | $64,824-85.2% |
| Participation rate | 54.3% | 64.2%-10.0pp | 80.3%-26.0pp | 71.5%-17.2pp |
| Annual return | -14.62% | -10.05%-4.6pp | -0.04%-14.6pp | 32.84%-47.5pp |
| Employer contribution / active EE | $1,042 | $1,911-45.5% | $4,952-79.0% | $2,507-58.4% |
| Participant deferral / active EE | $590 | $2,647-77.7% | $5,638-89.5% | $4,311-86.3% |
| Admin fee / account holder | $64 | $154-58.2% | $14,679-99.6% | $188-65.7% |