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| Provider | Service type | Compensation |
|---|---|---|
Filed as: MASSACHUSETTS MUTUAL LIFE INS CO Service code 15 · EIN 04-1590850 | Recordkeeping | $32,617 |
Filed as: MERRILL LYNCH PIERCE FENNER SMITH Service code 26 · EIN 13-5674085 | Advisory (Participants) | $25,600 |
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.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
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 | $82,728 | $77,677+6.5% | $109,173-24.2% | $79,391+4.2% |
| Participation rate | 20.5% | 67.8%-47.3pp | 75.9%-55.3pp | 70.7%-50.2pp |
| Annual return | 12.83% | 23.44%-10.6pp | 25.75%-12.9pp | 116.88%-104.1pp |
| Employer contribution / active EE | $0 | $2,798-100.0% | $3,723-100.0% | $2,428-100.0% |
| Participant deferral / active EE | $1,496 | $3,517-57.5% | $4,654-67.9% | $4,046-63.0% |
| Admin fee / account holder | $1,199 | $732+63.7% | $6,755-82.2% | $627+91.4% |