Filed February 17, 2025
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: TRANSAMERICA LIFE INSURANCE COMPANY Service code 15 · EIN 39-0989781 | Recordkeeping | $7,440 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Participant contribution per participant is in the bottom quintile of the peer cohort.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $10,431 | $52,884-80.3% | $84,753-87.7% | $55,167-81.1% |
| Participation rate | 17.8% | 67.5%-49.8pp | 76.6%-58.8pp | 69.0%-51.2pp |
| Annual return | 7.78% | 18.03%-10.3pp | 22.78%-15.0pp | 169.23%-161.5pp |
| Employer contribution / active EE | $0 | $2,233-100.0% | $3,574-100.0% | $1,963-100.0% |
| Participant deferral / active EE | $376 | $2,644-85.8% | $3,712-89.9% | $3,054-87.7% |
| Admin fee / account holder | $148 | $581-74.6% | $5,333-97.2% | $504-70.7% |