Filed September 9, 2021
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: MASSMUTUAL LIFE INSURANCE CO. Service code 15 · EIN 04-1590850 | Recordkeeping | $2,368 |
Filed as: ENVESTNET RETIREMENT SOLUTIONS Service code 28 · EIN 61-1732930 | Investment Management | $0 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll 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 | $22,243 | $28,109-20.9% | $71,089-68.7% | $56,289-60.5% |
| Participation rate | 30.6% | 40.4%-9.9pp | 54.6%-24.1pp | 69.9%-39.3pp |
| Annual return | -8.15% | -615.05%+606.9pp | 650.65%-658.8pp | -9.96%+1.8pp |
| Employer contribution / active EE | $611 | $558+9.6% | $1,088-43.8% | $2,111-71.0% |
| Participant deferral / active EE | $789 | $1,116-29.3% | $1,873-57.9% | $3,350-76.4% |
| Admin fee / account holder | $25 | $585-95.7% | $3,082-99.2% | $521-95.2% |