Filed February 20, 2023
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: MASSACHUSETTS MUTUAL LIFE INSURANCE Service code 49 · EIN 04-1590850 | Other Services | $10,392 |
Filed as: UBS FINACIAL SERVICES INS AGENCY Service code 53 | Insurance Commissions | $3,108 |
BSP CONSULTING1 year Filed as: BSP RETIREMENT SERVICES Service code 13 · EIN 71-1039549 | Contract Administrator | $0 |
Filed as: UBS FINANCIAL SERVICES INS AGENCY Service code 53 · EIN 51-0120742 | Insurance Commissions | $0 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
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 | $9,190 | $44,873-79.5% | $79,467-88.4% | $56,289-83.7% |
| Participation rate | 64.5% | 68.7%-4.2pp | 73.3%-8.8pp | 69.9%-5.3pp |
| Annual return | 29.81% | 0.81%+29.0pp | 718.30%-688.5pp | -9.96%+39.8pp |
| Employer contribution / active EE | $1,711 | $2,140-20.0% | $2,800-38.9% | $2,111-18.9% |
| Participant deferral / active EE | $2,311 | $2,746-15.9% | $3,704-37.6% | $3,350-31.0% |
| Admin fee / account holder | $93 | $418-77.8% | $5,104-98.2% | $521-82.2% |