Filed November 8, 2021
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: TRANSAMERICA FINANCIAL LIFE INS CO Service code 15 · EIN 36-6071399 | Recordkeeping | $23,195 |
QBI, LLC1+ years Service code 15 · EIN 26-2768667 | Recordkeeping | $3,850 |
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.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Plan reported corrective distributions (failed ADP/ACP testing).
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 | $13,714 | $47,456-71.1% | $172,752-92.1% | $77,775-82.4% |
| Participation rate | 40.9% | 66.3%-25.4pp | 82.6%-41.8pp | 73.2%-32.3pp |
| Annual return | 80.09% | 35.57%+44.5pp | 802.97%-722.9pp | 32.58%+47.5pp |
| Employer contribution / active EE | $0 | $1,574-100.0% | $5,144-100.0% | $2,504-100.0% |
| Participant deferral / active EE | $2,906 | $2,560+13.5% | $5,198-44.1% | $3,966-26.7% |
| Admin fee / account holder | $61 | $81-25.0% | $13,955-99.6% | $100-39.4% |