Filed May 11, 2023 (most recent of 2 filings on file)
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: MASSMUTUAL LIFE INSURANCE CO. Service code 15 · EIN 04-1590850 | Recordkeeping | $1,368 |
Filed as: MESIROW FINANCIAL INVESTMENT MGMT Service code 49 · EIN 36-3429599 | Other Services | $22 |
Service code 27 · EIN 61-1732930 | Advisory (Plan) | $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.
Plan reported corrective distributions (failed ADP/ACP testing).
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 | $8,149 | $42,548-80.8% | $74,551-89.1% | $56,289-85.5% |
| Participation rate | 65.8% | 60.5%+5.4pp | 69.1%-3.3pp | 69.9%-4.0pp |
| Annual return | -3.33% | 12.40%-15.7pp | 32.53%-35.9pp | -9.96%+6.6pp |
| Employer contribution / active EE | $410 | $855-52.1% | $1,961-79.1% | $2,111-80.6% |
| Participant deferral / active EE | $921 | $2,277-59.5% | $3,108-70.4% | $3,350-72.5% |
| Admin fee / account holder | $5 | $467-98.8% | $5,059-99.9% | $521-99.0% |