Filed July 20, 2016 (most recent of 3 filings on file)
Total covered: 6 employees
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: MASSACHUSETTS MUTUAL LIFE INSURANCE Service code 52 · EIN 04-1590850 | Indirect Investment Fees | $72,156 |
EDWARD JONES2+ years Service code 27 · EIN 43-0345811 | Advisory (Plan) | $34,341 |
NOVA 401(K) ASSOCIATES2+ years Service code 13 · EIN 20-1181458 | Contract Administrator | $0 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Plan reported corrective distributions (failed ADP/ACP testing).
The auditor signed off without reservation. This is the cleanest opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $34,963 | $56,485-38.1% | $185,823-81.2% | $86,799-59.7% |
| Participation rate | 49.9% | 65.5%-15.6pp | 81.7%-31.8pp | 72.3%-22.4pp |
| Annual return | 14.25% | 118.04%-103.8pp | 122.05%-107.8pp | 97.91%-83.7pp |
| Employer contribution / active EE | $1,182 | $1,843-35.9% | $5,167-77.1% | $2,405-50.9% |
| Participant deferral / active EE | $2,203 | $2,553-13.7% | $5,568-60.4% | $4,131-46.7% |
| Admin fee / account holder | $433 | $150+189.3% | $16,237-97.3% | $170+155.2% |