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 | $238,381 |
Service code 27 · EIN 20-8874282 | Advisory (Plan) | $141,440 |
ASCENSUS LLC2 years Filed as: FUTUREPLAN BY ASCENSUS Service code 15 · EIN 82-3719843 | Recordkeeping | $84,840 |
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.)
Annual investment return is in the bottom quintile of the peer cohort.
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 | $51,128 | $50,151+1.9% | $149,696-65.8% | $80,157-36.2% |
| Participation rate | 43.1% | 64.3%-21.2pp | 78.8%-35.6pp | 72.9%-29.8pp |
| Annual return | 13.96% | 29.80%-15.8pp | 134.46%-120.5pp | 40.39%-26.4pp |
| Employer contribution / active EE | $0 | $1,867-100.0% | $4,821-100.0% | $2,977-100.0% |
| Participant deferral / active EE | $3,753 | $3,194+17.5% | $5,682-34.0% | $5,015-25.2% |
| Admin fee / account holder | $434 | $153+184.2% | $13,212-96.7% | $145+199.3% |