Filed September 21, 2023
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| Provider | Service type | Compensation |
|---|---|---|
TRANSAMERICA RETIREMENT SOLUTIONS10+ years Filed as: TRANSAMERICA LIFE INSURANCE COMPANY Service code 15 · EIN 39-0989781 | Recordkeeping | $53,198 |
SINGERLEWAK LLP7 years Filed as: SINGERLEWAK Service code 10 · EIN 95-2302617 | Accounting | $21,670 |
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 signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $26,895 | $89,093-69.8% | $102,434-73.7% | $77,736-65.4% |
| Participation rate | 95.3% | 80.9%+14.4pp | 76.5%+18.8pp | 70.6%+24.8pp |
| Annual return | 12.09% | 25.03%-12.9pp | 29.46%-17.4pp | 31.26%-19.2pp |
| Employer contribution / active EE | $790 | $2,699-70.7% | $3,023-73.9% | $2,728-71.0% |
| Participant deferral / active EE | $6,688 | $5,147+29.9% | $5,055+32.3% | $4,651+43.8% |
| Admin fee / account holder | $124 | $236-47.4% | $9,462-98.7% | $433-71.4% |