Filed May 27, 2020
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: MASSMUTUAL LIFE INSURANCE CO. Service code 15 · EIN 04-1590850 P.O. BOX 1583 · HARTFORD, CT 061441583 | Recordkeeping | $2,124 |
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Plan reported corrective distributions (failed ADP/ACP testing).
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.
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 | $60,633 | $46,732+29.7% | $156,551-61.3% | $55,167+9.9% |
| Participation rate | 93.7% | 65.8%+27.9pp | 84.0%+9.7pp | 69.0%+24.7pp |
| Annual return | 7.62% | 17.72%-10.1pp | 32.23%-24.6pp | 169.23%-161.6pp |
| Employer contribution / active EE | $6,381 | $2,105+203.1% | $5,501+16.0% | $1,963+225.2% |
| Participant deferral / active EE | $4,384 | $2,204+98.9% | $4,871-10.0% | $3,054+43.6% |
| Admin fee / account holder | $18 | $418-95.8% | $13,028-99.9% | $504-96.5% |