Plan Snapshot
- Plan Sponsor: Massachusetts Institute Of Technology
- Sponsor EIN: 042103594
- Sponsor Address: 77 MASSACHUSETTS AVENUE, CAMBRIDGE, MA, 02139
- Plan Type: Health & Welfare
- Plan Number: 507
- Total Participants: 7,380
- Total Assets: $1.2B
Key Plan Design Features
- Auto-Enrollment: No
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: No
- Participant-Directed Investments: No
- ERISA Section 404(c) Fiduciary Safe Harbor: No
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 7,380 | $1.2B | $0 | $13.8M |
| 2023 | 7,237 | $1.0B | $0 | $12.4M |
| 2022 | 7,155 | $937.7M | $0 | $11.1M |
Service Providers (Schedule C)
Vendors paid $5,000 or more for services to the plan, ranked by total compensation (direct + indirect fees).
| Provider Name | Role | Direct Compensation | Indirect Compensation | Total Fees |
|---|---|---|---|---|
| BLUE CROSS BLUE SHIELD OF MASS | Other Service Provider | $1,237,945 | — | $1,237,945 |
| EXPRESS SCRIPTS, INC | Other Service Provider | $745,234 | — | $745,234 |
| STATE STREET BANK AND TRUST COMPANY | Custodian / Trustee | $472,369 | — | $472,369 |
| HEDGESERV CAYMAN LTD | Other Service Provider | $116,396 | — | $116,396 |
| PRICEWATERHOUSECOOPERS | Auditor | $100,199 | — | $100,199 |
| WILLIS TOWERS WATSON | Actuary | $98,000 | — | $98,000 |
| KPMG | Auditor | $50,032 | — | $50,032 |
| NORTHEAST RETIREMENT SERVICES | Other Service Provider | $10,748 | — | $10,748 |
| K1X, INC | Other Service Provider | $7,570 | — | $7,570 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- PRICEWATERHOUSECOOPERS — Auditor
- KPMG — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $2,838,493
- Estimated Expense Ratio: 0.246% of plan assets
Historical Administrative Expenses
Breakdown of administrative expense categories reported on Form 5500 filings.
| Year | Total Admin Expenses | Investment Mgmt Fees | Contract Admin Fees | IQPA Audit Fees | Professional Fees |
|---|---|---|---|---|---|
| 2024 | $5,436,684 | $1,185,068 | $1,983,179 | $100,199 | — |
| 2023 | $5,869,994 | $1,549,383 | $1,875,174 | $98,165 | — |
| 2022 | $2,504,927 | $391,670 | $1,888,384 | — | $154,898 |