Retirement plan

METLIFE 401(K) PLAN

Name: METLIFE GROUP, INC. - METLIFE 401(K) PLAN (2023) Form 5500
Creator: METLIFE GROUP, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, METLIFE 401(K) PLAN, METLIFE GROUP, INC.

METLIFE GROUP, INC.EIN 55-0790010Plan #003PY 2023

501 US HIGHWAY 22 WEST, C/O HR BENEFITS - BRIDGEWATER, NJ 088072441908-253-1977

Other plans on this EIN

1 filing

#001Retirement-$7.89B assets

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$7662.8M

+8.8% from 2022

Total participants

33,396

-3.1% from 2022

Average account balance

$235,034

+11.8% from 2022

Annual return

15.57%

+24.28 pp from 2022

Benchmarks

See 90 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants>=10,000

Cohort90 peers

Snapshot2023

See peer percentile detail. $4.99 for your first month.

Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.

Start for $4.99 See plans

Analytics

Total assets (EOY)

Plan-year ending balance

$8.32B

Not enough data

1 years with asset history on file

Average account balance

Total assets / participants with a balance (line 6g)

$262K

Not enough data

1 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

31,714

Not enough data

1 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

95.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$223.65M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$15K

Not enough data

1 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+14.39%

Not enough data

1 years with return on file

Admin fee / account holder

Total admin expenses / participants with a balance (line 6g)

$325

Not enough data

1 years with admin cost on file

Asset composition

Cash / stocks / bonds / mutual funds / real estate / loans over time

Not enough data

1 years with F_SCH_H allocation on file

See the 7-year trajectory. $4.99 for your first month.

Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.

Start for $4.99 See plans

Service providers

Top 7 by compensation

Provider	Service type	Compensation
METLIFE LIFE INSURANCE COMPANY6+ years Filed as: METLIFE INSURANCE COMPANY Service code 28 · EIN 13-5581829	Investment Management	$7,916,050
BAILLIE GIFFORD OVERSEAS LTD2 years Service code 28 · EIN 22-3438530	Investment Management	$1,631,922
METLIFE LIFE INSURANCE COMPANY2 years Filed as: METLIFE INVEST MANAGEMENT HOLDINGS Service code 28 · EIN 82-2405817	Investment Management	$868,784
THE BANK OF NEW YORK MELLON6+ years Filed as: PERSHING LLC Service code 59 · EIN 13-2741729	Shareholder Servicing	$50,740
ALIGHT SOLUTIONS LLC6+ years Filed as: ALIGHT FINANCIAL SOLUTIONS, LLC Service code 61	Finders' fees / placement fees; Distr...	$46,842
NORTHERN TRUST COMPANY2 years Filed as: THE NORTHERN TRUST COMPANY Service code 15 · EIN 36-1561860	Recordkeeping	$38,576
ALIGHT SOLUTIONS LLC6+ years Filed as: ALIGHT FINANCIAL SOLUTIONS LLC Service code 33 · EIN 82-1061233	Distribution (12b-1) fees; Finders' f...	$8,110

Plan features & details

Pension benefit codes2F2G2J2K2R3F3H2E

Plan features

2E
Profit-sharing
Profit-sharing plan.
2F
ERISA section 404(c) plan
This plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
2G
Total participant-directed account plan
Participants have the opportunity to direct the investment of all of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2J
Code section 401(k) feature
Cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan under which employees may elect to defer part of their compensation or receive these amounts in cash.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
3F
Leased employees
Plan sponsor(s) received services of leased employees as defined in Code section 414(n) during the plan year.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$10.3M

$703 / participant

Investment mgmt$10M100.0%

% of EOY assets

0.135%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: DELOITTE & TOUCHE, LLP
Auditor EIN: 133891517
Audit fees: (not subdivided)
Opinion code: Unqualified

Look up a plan sponsor by EIN. Free Form 5500 search. No signup.

Metric

This plan

Peer set

Industry

Size

Avg account balance

$235,034

$135,240+73.8%

$169,993+38.3%

$96,393+143.8%

Participation rate

94.6%

86.5%+8.1pp

87.0%+7.6pp

71.3%+23.3pp

Annual return

15.57%

22.04%-6.5pp

53.37%-37.8pp

22.88%-7.3pp

Employer contribution / active EE

$4,357

$5,029-13.4%

$6,785-35.8%

$3,238+34.5%

Participant deferral / active EE

$10,267

$8,138+26.2%

$10,408-1.4%

$5,455+88.2%

Admin fee / account holder

$317

$85+273.5%

$12,815-97.5%

$74+329.2%

Provider

Service type

Compensation

METLIFE LIFE INSURANCE COMPANY6+ years

Filed as: METLIFE INSURANCE COMPANY

Service code 28 · EIN 13-5581829

Investment Management

$7,916,050

BAILLIE GIFFORD OVERSEAS LTD2 years

Service code 28 · EIN 22-3438530

Investment Management

$1,631,922

METLIFE LIFE INSURANCE COMPANY2 years

Filed as: METLIFE INVEST MANAGEMENT HOLDINGS

Service code 28 · EIN 82-2405817

Investment Management

$868,784

THE BANK OF NEW YORK MELLON6+ years

Filed as: PERSHING LLC

Service code 59 · EIN 13-2741729

Shareholder Servicing

$50,740

ALIGHT SOLUTIONS LLC6+ years

Filed as: ALIGHT FINANCIAL SOLUTIONS, LLC

Service code 61

Finders' fees / placement fees; Distr...

$46,842

NORTHERN TRUST COMPANY2 years

Filed as: THE NORTHERN TRUST COMPANY

Service code 15 · EIN 36-1561860

Recordkeeping

$38,576

ALIGHT SOLUTIONS LLC6+ years

Filed as: ALIGHT FINANCIAL SOLUTIONS LLC

Service code 33 · EIN 82-1061233

Distribution (12b-1) fees; Finders' f...

$8,110

METLIFE 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

METLIFE 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion