Filed July 30, 2020
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: TRANSAMERICA RETIREMENT SOLUTIONS, Service code 15 · EIN 13-3689044 | Recordkeeping | $96,836 |
THE BANK OF NEW YORK MELLON4 years Filed as: BANK OF AMERICA NA Service code 27 · EIN 13-5674085 | Advisory (Plan) | $53,696 |
SENTINEL PENSION LLC5 years Filed as: SENTINEL PENSION, LLC Service code 15 · EIN 46-0570503 | Recordkeeping | $26,138 |
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Annual investment return is in the bottom quintile of the peer cohort.
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $70,871 | $129,227-45.2% | $184,256-61.5% | $77,762-8.9% |
| Participation rate | 99.7% | 87.4%+12.3pp | 86.8%+12.8pp | 70.6%+29.1pp |
| Annual return | 12.69% | 33.24%-20.5pp | 28.85%-16.2pp | 31.27%-18.6pp |
| Employer contribution / active EE | $5,983 | $4,412+35.6% | $6,427-6.9% | $2,728+119.3% |
| Participant deferral / active EE | $4,963 | $7,307-32.1% | $9,133-45.7% | $4,651+6.7% |
| Admin fee / account holder | $492 | $256+92.4% | $13,899-96.5% | $433+13.7% |