Filed May 29, 2024
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| Provider | Service type | Compensation |
|---|---|---|
TIAA2+ years Filed as: TIAA - TEACHERS INSURANCE & ANNUITY Service code 15 · EIN 13-1624203 | Recordkeeping | $3,392 |
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.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
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 | $6,107 | $35,600-82.8% | $87,502-93.0% | $63,975-90.5% |
| Participation rate | 7.4% | 56.1%-48.8pp | 73.8%-66.5pp | 71.1%-63.8pp |
| Annual return | 7.55% | 17.86%-10.3pp | 12.21%-4.7pp | 48.65%-41.1pp |
| Employer contribution / active EE | $0 | $854-100.0% | $2,550-100.0% | $2,182-100.0% |
| Participant deferral / active EE | $181 | $1,660-89.1% | $3,149-94.3% | $3,356-94.6% |
| Admin fee / account holder | $54 | $51+5.9% | $4,221-98.7% | $70-23.7% |