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| Provider | Service type | Compensation |
|---|---|---|
Filed as: TRANSAMERICA LIFE INSURANCE COMPANY Service code 15 · EIN 39-0989781 | Recordkeeping | $23,256 |
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.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
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 | $49,422 | $59,186-16.5% | $76,766-35.6% | $56,287-12.2% |
| Participation rate | 25.2% | 75.2%-50.0pp | 77.0%-51.7pp | 69.9%-44.6pp |
| Annual return | -1.26% | 6.62%-7.9pp | 2.43%-3.7pp | -9.96%+8.7pp |
| Employer contribution / active EE | $0 | $1,759-100.0% | $2,485-100.0% | $2,111-100.0% |
| Participant deferral / active EE | $1,066 | $3,255-67.2% | $3,851-72.3% | $3,350-68.2% |
| Admin fee / account holder | $456 | $489-6.8% | $6,675-93.2% | $521-12.5% |