Filed July 30, 2020
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: TRANSAMERICA RETIREMENT SOLUTIONS, Service code 15 · EIN 13-3689044 | Recordkeeping | $61,435 |
Filed as: BANK OF AMERICA NA Service code 27 · EIN 13-5674085 | Advisory (Plan) | $46,774 |
SENTINEL PENSION LLC2 years Filed as: SENTINEL PENSION, LLC Service code 15 · EIN 46-0570503 | Recordkeeping | $16,123 |
Participant contribution per participant is in the bottom quintile of the peer cohort.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $54,043 | $111,491-51.5% | $189,520-71.5% | $86,813-37.7% |
| Participation rate | 99.7% | 87.3%+12.3pp | 87.8%+11.8pp | 72.3%+27.4pp |
| Annual return | 18.36% | 83.50%-65.1pp | 555.25%-536.9pp | 97.93%-79.6pp |
| Employer contribution / active EE | $3,896 | $3,951-1.4% | $6,161-36.8% | $2,406+61.9% |
| Participant deferral / active EE | $3,406 | $6,437-47.1% | $8,220-58.6% | $4,131-17.5% |
| Admin fee / account holder | $364 | $189+92.7% | $12,046-97.0% | $170+114.4% |