Filed July 25, 2023 (most recent of 2 filings on file)
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: TRANSAMERICA FINANCIAL LIFE INSURAN Service code 15 · EIN 36-6071399 | Recordkeeping | $0 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Annual investment return is in the bottom quintile of the peer cohort.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
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 | $40,907 | $84,236-51.4% | $170,435-76.0% | $70,126-41.7% |
| Participation rate | 45.7% | 70.8%-25.2pp | 83.6%-37.9pp | 69.5%-23.9pp |
| Annual return | 9.75% | 23.06%-13.3pp | 205.94%-196.2pp | 73.15%-63.4pp |
| Employer contribution / active EE | $0 | $3,387-100.0% | $5,432-100.0% | $2,343-100.0% |
| Participant deferral / active EE | $1,025 | $3,086-66.8% | $4,939-79.2% | $3,332-69.2% |
| Admin fee / account holder | $217 | $5,698-96.2% | $13,881-98.4% | $4,645-95.3% |