Filed August 19, 2022
Sign up free to preview peer percentile detail
Free accounts unlock saves, downloads, and 3-year history.
Sign up free to preview 9-year trajectory
Free accounts unlock saves, downloads, and 3-year history.
| Provider | Service type | Compensation |
|---|---|---|
Filed as: MASSACHUSETTS MUTUAL LIFE INSUR CO Service code 62 · EIN 04-1590850 | Float revenue; Recordkeeping fees | $5,827 |
WELLS FARGO BANK, N.A.1 year Filed as: WELLS FARGO WEALTH BROKERAGE INS Service code 53 · EIN 54-0702835 | Insurance Commissions | $3,315 |
Service code 13 · EIN 11-3665754 | Contract Administrator | $480 |
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.
Employer contribution per participant is in the bottom quintile of the peer cohort.
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $26,734 | $60,989-56.2% | $60,899-56.1% | $66,930-60.1% |
| Participation rate | 17.9% | 74.5%-56.6pp | 73.1%-55.2pp | 69.8%-51.9pp |
| Annual return | -16.41% | -9.60%-6.8pp | 16.92%-33.3pp | 1.57%-18.0pp |
| Employer contribution / active EE | $109 | $2,661-95.9% | $2,702-96.0% | $2,545-95.7% |
| Participant deferral / active EE | $795 | $3,615-78.0% | $3,817-79.2% | $4,238-81.3% |
| Admin fee / account holder | $158 | $338-53.3% | $3,225-95.1% | $593-73.4% |