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| Provider | Service type | Compensation |
|---|---|---|
Filed as: TRANSAMERICA RETIREMENT SOLUTIONS, Service code 15 · EIN 13-3689044 | Recordkeeping | $30,157 |
Filed as: TRANSAMERICA FINANCIAL ADVISORS INC Service code 22 · EIN 95-3809372 | Insurance Broker | $17,763 |
NOVA 401(K) ASSOCIATES1 year Filed as: NOVA 401(K) ASSOCIATES LP Service code 15 · EIN 20-1181458 | Recordkeeping | $4,557 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Participant 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).
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.
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 | $28,925 | $73,404-60.6% | $87,104-66.8% | $67,579-57.2% |
| Participation rate | 60.5% | 80.9%-20.3pp | 76.9%-16.4pp | 71.3%-10.8pp |
| Annual return | 936.20% | 48.29%+887.9pp | 28.19%+908.0pp | 378.56%+557.6pp |
| Employer contribution / active EE | $773 | $2,014-61.6% | $2,521-69.3% | $2,148-64.0% |
| Participant deferral / active EE | $1,416 | $3,913-63.8% | $4,048-65.0% | $3,539-60.0% |
| Admin fee / account holder | $97 | $142-31.5% | $7,491-98.7% | $142-31.8% |