Retirement plan

MATTER COMMUNICATIONS, INC. RETIREMENT SAVINGS PLAN

Name: MATTER COMMUNICATIONS, INC. - MATTER COMMUNICATIONS, INC. RETIREMENT SAVINGS PLAN (2024) Form 5500
Creator: MATTER COMMUNICATIONS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MATTER COMMUNICATIONS, INC. RETIREMENT SAVINGS PLAN, MATTER COMMUNICATIONS, INC.

MATTER COMMUNICATIONS, INC.EIN 56-2337891Plan #001PY 2024

50 WATER ST STE 3 - NEWBURYPORT, MA 019502889978-499-9250matternow.comLinkedIn201-500 employeespublic relations and communications

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$10.5M

+12.2% from 2023

Total participants

204

-12.8% from 2023

Average account balance

$62,946

+33.7% from 2023

Annual return

17.14%

-2.70 pp from 2023

Benchmarks

See 6,290 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants100-249

Cohort6,290 peers

Snapshot2024

Free accounts unlock saves, downloads, and 3-year history.

Analytics

Total assets (EOY)

Plan-year ending balance

$10.51M

Not enough data

1 years with asset history on file

Average account balance

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

$63K

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.

167

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.

73.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.45M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$10K

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

+17.14%

Not enough data

1 years with return on file

Admin fee / account holder

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

$353

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

Free accounts unlock saves, downloads, and 3-year history.

Service providers

Top 2 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY5 years Service code 13 · EIN 42-0127290	Contract Administrator	$58,880
NORTHWESTERN MUTUAL INVESTMENT SERV3 years Filed as: NORTHWESTERN MUTUAL WEALTH MGMT Service code 27 · EIN 39-2018056	Advisory (Plan)	$24,327

Plan features & details

Pension benefit codes2E2F2G2J2T3D

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.
2T
Default investment account
Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
3D
Pre-approved pension plan
A master prototype or volume submitter plan that is the subject of a favorable opinion or advisory letter from the IRS.

Opportunity flags

1 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$59K

$421 / participant

Contract admin$59K100.0%

% of EOY assets

0.560%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: BAKER NEWMAN & NOYES LLC
Auditor EIN: 010494526
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$62,946

$101,539-38.0%

$147,041-57.2%

$74,400-15.4%

Participation rate

73.6%

75.5%-2.0pp

82.2%-8.6pp

67.2%+6.4pp

Annual return

17.14%

8740.84%-8723.7pp

419.21%-402.1pp

1367.51%-1350.4pp

Employer contribution / active EE

$3,325

$3,811-12.8%

$4,935-32.6%

$2,624+26.7%

Participant deferral / active EE

$7,047

$7,304-3.5%

$8,071-12.7%

$4,348+62.1%

Admin fee / account holder

$353

$1,749-79.8%

$13,006-97.3%

$1,944-81.9%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY5 years

Service code 13 · EIN 42-0127290

Contract Administrator

$58,880

NORTHWESTERN MUTUAL INVESTMENT SERV3 years

Filed as: NORTHWESTERN MUTUAL WEALTH MGMT

Service code 27 · EIN 39-2018056

Advisory (Plan)

$24,327

MATTER COMMUNICATIONS, INC. RETIREMENT SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MATTER COMMUNICATIONS, INC. RETIREMENT SAVINGS 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