Plan Snapshot
- Plan Sponsor: Massachusetts Institute Of Technology
- Sponsor EIN: 042103594
- Sponsor Address: 77 MASSACHUSETTS AVENUE NE49 3142, CAMBRIDGE, MA, 02139
- Plan Type: 401(k)
- Total Participants: 15,125
- Total Assets: $7.7B
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: Yes
- Participant-Directed Investments: Yes
- ERISA Section 404(c) Fiduciary Safe Harbor: Yes
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 15,125 | $7.7B | $86.1M | $168.3M |
| 2023 | 14,762 | $6.8B | $80.0M | $156.1M |
| 2022 | 14,094 | $5.8B | $73.3M | $141.6M |
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 |
|---|---|---|---|---|
| FIDELITY INVESTMENTS INSTITUTIONAL | RECORDKEEPER | $194,957 | — | $194,957 |
| PRICEWATERHOUSECOOPERS LLP | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- FIDELITY INVESTMENTS INSTITUTIONAL — RECORDKEEPER
- PRICEWATERHOUSECOOPERS LLP — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $194,957
- Estimated Expense Ratio: 0.003% 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 | $801,144 | $764,094 | — | — | — |
| 2023 | $771,468 | $738,006 | — | — | — |
| 2022 | $737,788 | $496,431 | — | — | — |