Filed December 26, 2024
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: MASSACHUSETTS MUTUAL LIFE INS CO Service code 15 · EIN 04-1590850 | Recordkeeping | $14,932 |
Filed as: MERRILL LYNCH, PIERCE, FENNER Service code 15 · EIN 13-5674085 4 WORLD FINANCIAL CENTER · NEW YORK, NY 10281 | Recordkeeping | $7,419 |
Service code 37 · EIN 27-0293282 12276 SAN JOSE BLVD · JACKSONVILLE, FL 32223 | Loan Processing | $2,381 |
Filed as: MESIROW FINANCIAL INV. MGT Service code 49 · EIN 36-3429599 | Other Services | $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.
Employer contribution per participant is in the bottom quintile of the peer cohort.
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 | $24,096 | $55,449-56.5% | $83,831-71.3% | $56,289-57.2% |
| Participation rate | 41.8% | 68.0%-26.2pp | 76.1%-34.3pp | 69.9%-28.0pp |
| Annual return | -2.54% | -1.38%-1.2pp | 850.99%-853.5pp | -9.96%+7.4pp |
| Employer contribution / active EE | $164 | $2,430-93.3% | $3,631-95.5% | $2,111-92.2% |
| Participant deferral / active EE | $974 | $2,935-66.8% | $4,082-76.1% | $3,350-70.9% |
| Admin fee / account holder | $271 | $656-58.6% | $5,479-95.0% | $521-47.9% |