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 | $83,043 |
Service code 15 · EIN 59-2438373 | Recordkeeping | $5,446 |
Filed as: MESIROW FINANCIAL, INC. Service code 27 · EIN 36-3194849 | Advisory (Plan) | $414 |
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).
The auditor signed off without reservation. This is the cleanest opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $38,291 | $42,353-9.6% | $79,550-51.9% | $64,808-40.9% |
| Participation rate | 46.8% | 64.8%-18.0pp | 69.5%-22.7pp | 71.5%-24.7pp |
| Annual return | -10.41% | -12.24%+1.8pp | 0.16%-10.6pp | 32.82%-43.2pp |
| Employer contribution / active EE | $1,031 | $1,181-12.7% | $2,413-57.3% | $2,506-58.9% |
| Participant deferral / active EE | $2,177 | $3,170-31.3% | $3,985-45.4% | $4,310-49.5% |
| Admin fee / account holder | $261 | $160+63.6% | $6,832-96.2% | $188+39.0% |