Filed May 4, 2021
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: TRANSAMERICA LIFE INS CO Service code 15 · EIN 36-6071399 | Recordkeeping | $62,524 |
Service code 15 · EIN 59-3163228 | Recordkeeping | $12,601 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Plan reported corrective distributions (failed ADP/ACP testing).
The auditor declined to give an opinion. This is usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $41,556 | $40,174+3.4% | $84,015-50.5% | $67,579-38.5% |
| Participation rate | 47.6% | 62.7%-15.1pp | 69.0%-21.4pp | 71.3%-23.7pp |
| Annual return | 18.98% | 25.82%-6.8pp | 71.31%-52.3pp | 378.56%-359.6pp |
| Employer contribution / active EE | $840 | $808+4.0% | $1,983-57.7% | $2,148-60.9% |
| Participant deferral / active EE | $1,610 | $2,301-30.0% | $3,239-50.3% | $3,539-54.5% |
| Admin fee / account holder | $372 | $128+189.9% | $6,101-93.9% | $142+161.4% |