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| Provider | Service type | Compensation |
|---|---|---|
Filed as: MASSACHUSETTS MUTUAL LIFE INSURANCE Service code 52 · EIN 04-1590850 | Indirect Investment Fees | $12,873 |
NOVA 401(K) ASSOCIATES3 years Service code 13 · EIN 20-1151458 | Contract Administrator | $2,884 |
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.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
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 | $28,578 | $84,948-66.4% | $70,494-59.5% | $73,412-61.1% |
| Participation rate | 48.1% | 79.9%-31.8pp | 75.1%-26.9pp | 72.2%-24.0pp |
| Annual return | 22.67% | 13.39%+9.3pp | 109.16%-86.5pp | 59.30%-36.6pp |
| Employer contribution / active EE | $463 | $2,834-83.7% | $2,738-83.1% | $2,234-79.3% |
| Participant deferral / active EE | $1,761 | $3,387-48.0% | $3,711-52.5% | $3,806-53.7% |
| Admin fee / account holder | $75 | $98-23.5% | $3,848-98.0% | $158-52.5% |