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| Provider | Service type | Compensation |
|---|---|---|
MACATAWA BANK1+ years Service code 15 · EIN 38-3378283 | Recordkeeping | $3,907 |
Filed as: MASS MUTUAL Service code 15 · EIN 04-1590850 | Recordkeeping | $100 |
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.
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 | $5,710 | $80,177-92.9% | $123,894-95.4% | $57,658-90.1% |
| Participation rate | 63.3% | 74.4%-11.1pp | 81.4%-18.1pp | 70.2%-6.9pp |
| Annual return | 12.35% | 17.90%-5.6pp | 47.52%-35.2pp | 5.13%+7.2pp |
| Employer contribution / active EE | $0 | $2,913-100.0% | $4,617-100.0% | $1,974-100.0% |
| Participant deferral / active EE | $697 | $5,130-86.4% | $5,984-88.4% | $3,061-77.2% |
| Admin fee / account holder | $16 | $106-84.5% | $8,357-99.8% | $95-82.6% |