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 | $20,052 |
COMMONWEALTH FINANCIAL NETWORK2+ years Service code 22 · EIN 04-2865307 | Insurance Broker | $0 |
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.
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 | $18,862 | $43,423-56.6% | $78,676-76.0% | $55,167-65.8% |
| Participation rate | 64.1% | 68.0%-3.9pp | 73.6%-9.5pp | 69.0%-4.9pp |
| Annual return | 9.94% | 11.53%-1.6pp | 62.19%-52.3pp | 169.23%-159.3pp |
| Employer contribution / active EE | $468 | $1,997-76.5% | $2,850-83.6% | $1,963-76.1% |
| Participant deferral / active EE | $742 | $2,509-70.4% | $3,517-78.9% | $3,054-75.7% |
| Admin fee / account holder | $80 | $416-80.9% | $4,510-98.2% | $504-84.2% |