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| Provider | Service type | Compensation |
|---|---|---|
Filed as: MASSMUTUAL LIFE INSURANCE COMPANY Service code 15 · EIN 04-1590850 | Recordkeeping | $600 |
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 | $18,631 | $74,347-74.9% | $93,621-80.1% | $67,579-72.4% |
| Participation rate | 23.1% | 80.6%-57.6pp | 75.8%-52.8pp | 71.3%-48.2pp |
| Annual return | 24.49% | 28.07%-3.6pp | 32.76%-8.3pp | 378.56%-354.1pp |
| Employer contribution / active EE | $0 | $2,583-100.0% | $2,719-100.0% | $2,148-100.0% |
| Participant deferral / active EE | $852 | $4,060-79.0% | $4,070-79.1% | $3,539-75.9% |
| Admin fee / account holder | $18 | $123-85.5% | $7,890-99.8% | $142-87.5% |