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| Provider | Service type | Compensation |
|---|---|---|
THE BENEFIT ADVANTAGE, INC.3 years Service code 15 · EIN 38-3254950 3497 AUBURN ROAD · AUBURN HILLS, MI 48326 | Recordkeeping | $86,940 |
Filed as: TRANSAMERICA FINANCIAL LIFE INSURAN Service code 15 · EIN 36-6071399 | Recordkeeping | $86,622 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer contribution per participant is in the bottom quintile of the peer cohort.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Plan reported corrective distributions (failed ADP/ACP testing).
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 | $14,873 | $44,007-66.2% | $154,111-90.3% | $68,904-78.4% |
| Participation rate | 15.8% | 70.0%-54.2pp | 83.0%-67.2pp | 74.1%-58.3pp |
| Annual return | 0.64% | 8.15%-7.5pp | 735.18%-734.5pp | 1.07%-0.4pp |
| Employer contribution / active EE | $92 | $1,732-94.7% | $5,298-98.3% | $2,540-96.4% |
| Participant deferral / active EE | $827 | $2,813-70.6% | $5,081-83.7% | $4,015-79.4% |
| Admin fee / account holder | $125 | $65+92.3% | $13,411-99.1% | $71+74.6% |