Filed October 7, 2021
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: TRANSAMERICA LIFE INSURANCE COMPANY Service code 15 · EIN 39-0989781 | Recordkeeping | $28,092 |
AIR GROUP, LLC1 year Service code 35 · EIN 22-3620908 | Employee (plan sponsor) | $16,500 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
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 | $86,347 | $52,884+63.3% | $84,753+1.9% | $55,167+56.5% |
| Participation rate | 46.0% | 67.5%-21.5pp | 76.6%-30.6pp | 69.0%-23.0pp |
| Annual return | 11.06% | 18.03%-7.0pp | 22.78%-11.7pp | 169.23%-158.2pp |
| Employer contribution / active EE | $1,147 | $2,233-48.6% | $3,574-67.9% | $1,963-41.6% |
| Participant deferral / active EE | $3,215 | $2,644+21.6% | $3,712-13.4% | $3,054+5.3% |
| Admin fee / account holder | $325 | $581-43.9% | $5,333-93.9% | $504-35.4% |