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 | $13,455 |
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.
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 | $25,274 | $37,245-32.1% | $94,993-73.4% | $77,958-67.6% |
| Participation rate | 13.3% | 56.5%-43.1pp | 73.9%-60.5pp | 71.6%-58.3pp |
| Annual return | 15.44% | 22.72%-7.3pp | 27.14%-11.7pp | 20.87%-5.4pp |
| Employer contribution / active EE | $0 | $894-100.0% | $2,603-100.0% | $2,310-100.0% |
| Participant deferral / active EE | $487 | $1,828-73.4% | $3,317-85.3% | $3,537-86.2% |
| Admin fee / account holder | $70 | $59+19.2% | $4,960-98.6% | $97-27.7% |