Filed September 9, 2021
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: MASSACHUSETTS MUTUAL LIFE INSURANCE Service code 15 · EIN 04-1590850 | Recordkeeping | $1,987 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
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 | $22,146 | $31,388-29.4% | $73,550-69.9% | $62,293-64.4% |
| Participation rate | 56.0% | 39.9%+16.1pp | 54.9%+1.0pp | 69.5%-13.5pp |
| Annual return | 15.94% | 25.34%-9.4pp | -15.16%+31.1pp | 28.90%-13.0pp |
| Employer contribution / active EE | $743 | $498+49.2% | $1,219-39.1% | $2,042-63.6% |
| Participant deferral / active EE | $1,076 | $1,028+4.6% | $1,804-40.4% | $3,169-66.1% |
| Admin fee / account holder | $22 | $299-92.7% | $2,320-99.1% | $479-95.4% |