Filed September 28, 2023
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: TRANSAMERICA LIFE INSURANCE COMPANY Service code 15 · EIN 39-0989781 | Recordkeeping | $31,905 |
THE RETIREMENT ADVANTAGE INC5 years Filed as: THE RETIREMENT ADVANTAGE, INC. Service code 15 · EIN 39-1816008 | Recordkeeping | $1,275 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Annual investment return is in the bottom quintile of the peer cohort.
The auditor signed off without reservation. This is the cleanest opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $49,314 | $65,435-24.6% | $86,677-43.1% | $66,914-26.3% |
| Participation rate | 55.3% | 75.5%-20.2pp | 76.6%-21.3pp | 69.8%-14.5pp |
| Annual return | -18.99% | -10.89%-8.1pp | 35.91%-54.9pp | 1.58%-20.6pp |
| Employer contribution / active EE | $1,879 | $2,153-12.7% | $2,836-33.8% | $2,544-26.1% |
| Participant deferral / active EE | $3,881 | $4,100-5.4% | $4,656-16.6% | $4,237-8.4% |
| Admin fee / account holder | $253 | $642-60.5% | $7,493-96.6% | $593-57.3% |