Filed March 3, 2023
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: MASSACHUSETTS MUTUAL LIFE INSURANCE Service code 52 · EIN 04-1590850 | Indirect Investment Fees | $63,608 |
GENEOS WEALTH MANAGEMENT INC2 years Filed as: GENEOS WEALTH MANAGEMENT, INC. Service code 27 · EIN 02-0580939 | Advisory (Plan) | $22,460 |
Filed as: EMPOWER ANNUITY INSURANCE COMPANY Service code 64 | Recordkeeping Fees | $9,227 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer 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.)
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Plan reported corrective distributions (failed ADP/ACP testing).
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $33,078 | $106,236-68.9% | $112,249-70.5% | $64,819-49.0% |
| Participation rate | 38.3% | 71.7%-33.4pp | 75.1%-36.8pp | 71.5%-33.2pp |
| Annual return | -11.54% | -6.02%-5.5pp | 27.48%-39.0pp | 32.84%-44.4pp |
| Employer contribution / active EE | $579 | $3,166-81.7% | $3,636-84.1% | $2,507-76.9% |
| Participant deferral / active EE | $1,968 | $3,785-48.0% | $4,729-58.4% | $4,311-54.3% |
| Admin fee / account holder | $514 | $452+13.8% | $6,412-92.0% | $188+173.5% |