Filed January 16, 2020
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| Provider | Service type | Compensation |
|---|---|---|
TAG RESOURCES, LLC4 years Service code 15 · EIN 62-1874769 | Recordkeeping | $20,254 |
Filed as: TRANSAMERICA FINANCIAL LIFE INS CO Service code 15 · EIN 36-6071399 | Recordkeeping | $16,994 |
COULTER & JUSTUS1 year Service code 10 · EIN 62-1874769 | Accounting | $4,600 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer contribution per participant is in the bottom quintile of the peer cohort.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $8,705 | $29,369-70.4% | $77,513-88.8% | $73,412-88.1% |
| Participation rate | 68.9% | 37.9%+31.0pp | 54.2%+14.7pp | 72.2%-3.2pp |
| Annual return | 15.59% | 358.15%-342.6pp | 54.81%-39.2pp | 59.30%-43.7pp |
| Employer contribution / active EE | $5 | $406-98.9% | $987-99.5% | $2,234-99.8% |
| Participant deferral / active EE | $898 | $941-4.6% | $1,861-51.8% | $3,806-76.4% |
| Admin fee / account holder | $59 | $123-51.6% | $2,859-97.9% | $158-62.4% |