Plan Snapshot
- Plan Sponsor: Massachusetts Institute Of Technology
- Sponsor EIN: 042103594
- Sponsor Address: 77 MASSACHUSETTS AVENUE, CAMBRIDGE, MA, 02139
- Plan Type: DB
- Total Participants: 13,100
- Total Assets: $5.9B
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 | 13,100 | $5.9B | $0 | $0 |
| 2023 | 12,533 | $5.4B | $0 | $0 |
| 2022 | 11,888 | $5.3B | $0 | $0 |
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 |
|---|---|---|---|---|
| WILLIS TOWERS WATSON | Actuary | $2,423,493 | — | $2,423,493 |
| STATE STREET BANK AND TRUST COMPANY | Custodian / Trustee | $646,806 | — | $646,806 |
| KPMG LLP | Auditor | $431,752 | — | $431,752 |
| HEDGESERVE CAYMAN LTD | Other Service Provider | $408,109 | — | $408,109 |
| NORTHEAST RETIREMENT SERVICES | Other Service Provider | $89,592 | — | $89,592 |
| PRICEWATERHOUSECOOPERS | Auditor | $69,160 | — | $69,160 |
| GROOM LAW | ERISA Attorney | $35,662 | — | $35,662 |
| K1X | Other Service Provider | $31,523 | — | $31,523 |
| THE BANK OF NEW YORK MELLON | Custodian / Trustee | $20,983 | — | $20,983 |
| CURCIO WEBB | Other Service Provider | $16,910 | — | $16,910 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- KPMG LLP — Auditor
- PRICEWATERHOUSECOOPERS — Auditor
- GROOM LAW — ERISA Attorney
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $4,173,990
- Estimated Expense Ratio: 0.071% 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 | $34,473,782 | $12,533,490 | $1,986,416 | $69,160 | — |
| 2023 | $8,491,997 | $1,468,142 | $1,869,277 | $69,034 | — |
| 2022 | $7,844,431 | $2,262,090 | $1,888,782 | — | $860,566 |