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| Provider | Service type | Compensation |
|---|---|---|
Service code 64 · EIN 84-0467907 | Recordkeeping Fees | $28,550 |
Filed as: MASSACHUSETTS MUTUAL LIFE INSURANCE Service code 55 · EIN 04-1590850 | Other Commissions | $17,296 |
NOVA 401(K) ASSOCIATES2 years Filed as: NOVA 401 (K) ASSOCIATES Service code 13 · EIN 20-1181458 | Contract Administrator | $3,933 |
Filed as: EMPOWER RETIREMENT ADVISORY SERVICE Service code 28 | Investment Management | $205 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Annual investment return is in the bottom quintile of the peer cohort.
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 | $46,713 | $42,548+9.8% | $74,549-37.3% | $56,287-17.0% |
| Participation rate | 44.5% | 60.5%-16.0pp | 69.1%-24.6pp | 69.9%-25.4pp |
| Annual return | -7.95% | 12.40%-20.4pp | 32.53%-40.5pp | -9.96%+2.0pp |
| Employer contribution / active EE | $485 | $855-43.3% | $1,961-75.3% | $2,111-77.0% |
| Participant deferral / active EE | $2,008 | $2,277-11.8% | $3,108-35.4% | $3,350-40.0% |
| Admin fee / account holder | $306 | $467-34.4% | $5,059-93.9% | $521-41.2% |