Filed September 6, 2023
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| Provider | Service type | Compensation |
|---|---|---|
TIAA1 year Filed as: TIAA-TEACHERS INS & ANNUITY ASSOC Service code 15 · EIN 13-1624203 | Recordkeeping | $75 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Plan reported corrective distributions (failed ADP/ACP testing).
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.
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 | $50,370 | $58,888-14.5% | $178,499-71.8% | $73,493-31.5% |
| Participation rate | 40.0% | 66.2%-26.2pp | 81.9%-41.9pp | 70.7%-30.7pp |
| Annual return | 13.23% | 24.86%-11.6pp | 151.10%-137.9pp | 28.51%-15.3pp |
| Employer contribution / active EE | $353 | $2,236-84.2% | $5,011-92.9% | $2,270-84.4% |
| Participant deferral / active EE | $1,705 | $2,568-33.6% | $5,202-67.2% | $3,740-54.4% |
| Admin fee / account holder | $0 | $400-100.0% | $13,986-100.0% | $513-100.0% |