Filed August 3, 2016
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: TRANSAMERICA LIFE INSURANCE COMPANY Service code 15 · EIN 39-0989781 | Recordkeeping | $13,357 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll 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 | $20,988 | $35,600-41.0% | $87,502-76.0% | $63,975-67.2% |
| Participation rate | 14.3% | 56.1%-41.9pp | 73.8%-59.6pp | 71.1%-56.9pp |
| Annual return | 7.93% | 17.86%-9.9pp | 12.21%-4.3pp | 48.65%-40.7pp |
| Employer contribution / active EE | $0 | $854-100.0% | $2,550-100.0% | $2,182-100.0% |
| Participant deferral / active EE | $598 | $1,660-64.0% | $3,149-81.0% | $3,356-82.2% |
| Admin fee / account holder | $75 | $51+47.9% | $4,221-98.2% | $70+6.6% |