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| Provider | Service type | Compensation |
|---|---|---|
Filed as: TRANSAMERICA FINANCIAL LIFE INS. CO Service code 15 · EIN 36-6071399 | Recordkeeping | $30,679 |
NOVA 401(K) ASSOCIATES3 years Filed as: NOVA 401(K) ASSOCIATES LP Service code 15 · EIN 20-1181458 | Recordkeeping | $17,811 |
Filed as: MESIROW FINANICAL, INC. Service code 27 · EIN 36-3194849 | Advisory (Plan) | $443 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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).
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $6,434 | $54,213-88.1% | $93,696-93.1% | $77,736-91.7% |
| Participation rate | 65.4% | 64.0%+1.5pp | 68.7%-3.3pp | 70.6%-5.1pp |
| Annual return | 11.94% | 30.55%-18.6pp | 133.74%-121.8pp | 31.26%-19.3pp |
| Employer contribution / active EE | $693 | $1,168-40.7% | $2,422-71.4% | $2,728-74.6% |
| Participant deferral / active EE | $1,503 | $3,145-52.2% | $4,417-66.0% | $4,651-67.7% |
| Admin fee / account holder | $116 | $575-79.8% | $8,287-98.6% | $433-73.2% |