Filed May 4, 2021
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: TRANSAMERICA FIN. LIFE INS. Service code 15 · EIN 36-6071399 | Recordkeeping | $179,958 |
Service code 99 · EIN 83-3880266 | Other Fees | $7,876 |
Service code 15 · EIN 59-2438373 | Recordkeeping | $0 |
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).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $31,650 | $48,744-35.1% | $93,727-66.2% | $200,096-84.2% |
| Participation rate | 53.2% | 63.7%-10.5pp | 68.7%-15.5pp | 72.0%-18.8pp |
| Annual return | 26.59% | 15.36%+11.2pp | 133.83%-107.2pp | 34.26%-7.7pp |
| Employer contribution / active EE | $1,117 | $1,140-2.0% | $2,421-53.9% | $3,038-63.2% |
| Participant deferral / active EE | $2,036 | $2,825-27.9% | $4,417-53.9% | $5,090-60.0% |
| Admin fee / account holder | $206 | $195+5.3% | $8,292-97.5% | $269-23.7% |