Filed April 21, 2020
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: TRANSAMERICA LIFE INSURANCE COMPANY Service code 15 · EIN 39-0989781 | Recordkeeping | $10,158 |
TAG RESOURCES, LLC6+ years Service code 15 · EIN 62-1874769 | Recordkeeping | $7,573 |
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.
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 | $32,949 | $123,793-73.4% | $177,848-81.5% | $79,856-58.7% |
| Participation rate | 41.0% | 84.7%-43.6pp | 87.7%-46.7pp | 69.6%-28.6pp |
| Annual return | 17.30% | 22.82%-5.5pp | 48.33%-31.0pp | 31.71%-14.4pp |
| Employer contribution / active EE | $4,938 | $4,095+20.6% | $5,919-16.6% | $2,471+99.8% |
| Participant deferral / active EE | $9,596 | $5,956+61.1% | $7,714+24.4% | $3,741+156.5% |
| Admin fee / account holder | $240 | $7,243-96.7% | $12,431-98.1% | $5,306-95.5% |