Filed October 16, 2020
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: TRANSAMERICA RETIREMENT SOLUTIONS C Service code 15 · EIN 13-3689044 | Recordkeeping | $22,219 |
COMMONWEALTH FINANCIAL NETWORK1+ years Service code 22 · EIN 04-2865307 | Insurance Broker | $10,896 |
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 | $17,318 | $41,854-58.6% | $73,845-76.5% | $52,331-66.9% |
| Participation rate | 79.9% | 66.2%+13.7pp | 73.4%+6.5pp | 68.1%+11.8pp |
| Annual return | -0.45% | 2.11%-2.6pp | 2267.91%-2268.4pp | 4.54%-5.0pp |
| Employer contribution / active EE | $599 | $1,920-68.8% | $2,788-78.5% | $1,882-68.2% |
| Participant deferral / active EE | $764 | $2,498-69.4% | $3,583-78.7% | $3,022-74.7% |
| Admin fee / account holder | $90 | $493-81.7% | $4,881-98.2% | $592-84.8% |