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 | $247,282 |
Service code 27 · EIN 20-8874282 | Advisory (Plan) | $155,276 |
ASCENSUS LLC1 year Filed as: FUTUREPLAN BY ASCENSUS Service code 15 · EIN 82-3719843 | Recordkeeping | $7,700 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Plan reported corrective distributions (failed ADP/ACP testing).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $38,793 | $45,000-13.8% | $143,799-73.0% | $77,906-50.2% |
| Participation rate | 37.8% | 66.8%-29.0pp | 80.3%-42.5pp | 73.7%-35.9pp |
| Annual return | -14.83% | 29.03%-43.9pp | -0.04%-14.8pp | 12.16%-27.0pp |
| Employer contribution / active EE | $0 | $1,870-100.0% | $4,952-100.0% | $2,846-100.0% |
| Participant deferral / active EE | $3,036 | $3,157-3.8% | $5,638-46.2% | $4,805-36.8% |
| Admin fee / account holder | $310 | $98+215.1% | $14,677-97.9% | $133+133.9% |