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| Provider | Service type | Compensation |
|---|---|---|
Filed as: THE PARAGON ALLIANCE GROUP Service code 13 · EIN 23-3044062 | Contract Administrator | $535 |
Filed as: MASSACHUSETTS MUTUAL LIFE INSURANCE Service code 15 · EIN 04-1590850 | Recordkeeping | $220 |
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.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
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 | $7,251 | $65,223-88.9% | $80,022-90.9% | $55,725-87.0% |
| Participation rate | 16.5% | 80.6%-64.1pp | 75.8%-59.4pp | 70.9%-54.4pp |
| Annual return | 15.56% | 7.59%+8.0pp | 11.22%+4.3pp | 244.93%-229.4pp |
| Employer contribution / active EE | $0 | $2,544-100.0% | $2,468-100.0% | $2,078-100.0% |
| Participant deferral / active EE | $673 | $3,881-82.7% | $3,686-81.7% | $3,356-79.9% |
| Admin fee / account holder | $10 | $114-90.9% | $6,521-99.8% | $115-91.0% |