Filed July 8, 2024
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| Provider | Service type | Compensation |
|---|---|---|
USI CONSULTING GROUP1+ years Service code 12 · EIN 06-1053228 | Participant loan processing; Claims p... | $884 |
Filed as: MASS MUTUAL Service code 15 · EIN 04-1590850 | Recordkeeping | $0 |
Filed as: RELIASTAR LIFE INSURANCE COMPANY Service code 60 · EIN 41-0451140 | Sub-TA Fees | $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.
More than 10% of assets are held in cash - possible menu-design or default-fund problem.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
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 | $13,148 | $41,854-68.6% | $73,835-82.2% | $52,331-74.9% |
| Participation rate | 60.2% | 66.2%-6.0pp | 73.4%-13.2pp | 68.1%-7.9pp |
| Annual return | 0.50% | 2.11%-1.6pp | 2268.13%-2267.6pp | 4.54%-4.0pp |
| Employer contribution / active EE | $272 | $1,920-85.9% | $2,788-90.3% | $1,882-85.6% |
| Participant deferral / active EE | $571 | $2,498-77.2% | $3,583-84.1% | $3,022-81.1% |
| Admin fee / account holder | $8 | $493-98.3% | $4,880-99.8% | $592-98.6% |