Filed October 25, 2023
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: MASSMUTUAL LIFE Service code 15 · EIN 04-1590850 | Recordkeeping | $2,028 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll 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 | $76,339 | $50,464+51.3% | $75,784+0.7% | $52,331+45.9% |
| Participation rate | 68.1% | 66.8%+1.3pp | 75.8%-7.8pp | 68.1%0pp |
| Annual return | 0.68% | 1.03%-0.3pp | 9.68%-9.0pp | 4.54%-3.9pp |
| Employer contribution / active EE | $0 | $1,988-100.0% | $3,323-100.0% | $1,882-100.0% |
| Participant deferral / active EE | $2,343 | $2,570-8.8% | $3,652-35.8% | $3,022-22.5% |
| Admin fee / account holder | $21 | $1,103-98.1% | $5,300-99.6% | $592-96.4% |