Filed March 8, 2018
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: MASSMUTUAL LIFE INSURANCE CO. Service code 15 · EIN 04-1590850 | Recordkeeping | $4,828 |
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 | $20,540 | $42,548-51.7% | $74,552-72.4% | $56,287-63.5% |
| Participation rate | 50.3% | 60.5%-10.2pp | 69.1%-18.9pp | 69.9%-19.6pp |
| Annual return | -7.04% | 12.40%-19.4pp | 32.53%-39.6pp | -9.96%+2.9pp |
| Employer contribution / active EE | $246 | $855-71.2% | $1,961-87.4% | $2,111-88.3% |
| Participant deferral / active EE | $1,794 | $2,277-21.2% | $3,108-42.3% | $3,350-46.4% |
| Admin fee / account holder | $35 | $467-92.5% | $5,060-99.3% | $521-93.3% |