Filed July 30, 2020
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: TRANSAMERICA RETIREMENT SOLUTIONS, Service code 15 · EIN 13-3689044 | Recordkeeping | $102,422 |
THE BANK OF NEW YORK MELLON5 years Filed as: BANK OF AMERICA NA Service code 27 · EIN 13-5674085 | Advisory (Plan) | $62,588 |
SENTINEL PENSION LLC6 years Filed as: SENTINEL PENSION, LLC Service code 15 · EIN 46-0570503 | Recordkeeping | $43,286 |
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
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 | $76,891 | $131,799-41.7% | $200,582-61.7% | $85,563-10.1% |
| Participation rate | 100.0% | 87.9%+12.1pp | 86.9%+13.1pp | 66.0%+34.0pp |
| Annual return | 15.89% | 21.59%-5.7pp | 42.33%-26.4pp | 31.51%-15.6pp |
| Employer contribution / active EE | $5,611 | $4,532+23.8% | $6,419-12.6% | $2,654+111.5% |
| Participant deferral / active EE | $4,815 | $7,702-37.5% | $9,331-48.4% | $4,375+10.0% |
| Admin fee / account holder | $538 | $235+128.7% | $16,305-96.7% | $834-35.6% |