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| Provider | Service type | Compensation |
|---|---|---|
Filed as: MASSMUTUAL LIFE INSURANCE CO Service code 15 · EIN 04-1590850 | Recordkeeping | $973 |
Filed as: JOHN HANCOCK LIFE INSURANCE CO Service code 15 · EIN 01-0233346 | Recordkeeping | $25 |
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.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
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 | $21,213 | $63,314-66.5% | $91,004-76.7% | $62,293-65.9% |
| Participation rate | 23.7% | 73.3%-49.6pp | 75.6%-51.9pp | 69.5%-45.8pp |
| Annual return | 30.80% | 21.00%+9.8pp | 4.60%+26.2pp | 28.90%+1.9pp |
| Employer contribution / active EE | $0 | $1,807-100.0% | $2,456-100.0% | $2,042-100.0% |
| Participant deferral / active EE | $764 | $2,944-74.0% | $3,548-78.5% | $3,169-75.9% |
| Admin fee / account holder | $88 | $468-81.3% | $5,417-98.4% | $479-81.7% |