Filed September 21, 2023
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: TRANSAMERICA LIFE INSURANCE COMPANY Service code 15 · EIN 39-0989781 | Recordkeeping | $30,175 |
SINGERLEWAK LLP2+ years Filed as: SINGER LEWAK Service code 10 · EIN 95-2302617 | Accounting | $9,000 |
INCENTIVE BENEFITS, INC.1 year Service code 15 · EIN 95-4395222 | Recordkeeping | $0 |
LPL FINANCIAL2+ years Filed as: LPL FINANCIAL. Service code 22 · EIN 95-2834236 | Insurance Broker | $0 |
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).
Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $15,931 | $60,165-73.5% | $74,184-78.5% | $55,167-71.1% |
| Participation rate | 76.4% | 74.2%+2.3pp | 76.6%-0.2pp | 69.0%+7.5pp |
| Annual return | 12.33% | 10.00%+2.3pp | 17.74%-5.4pp | 169.23%-156.9pp |
| Employer contribution / active EE | $0 | $1,600-100.0% | $2,370-100.0% | $1,963-100.0% |
| Participant deferral / active EE | $3,148 | $2,973+5.9% | $3,550-11.3% | $3,054+3.1% |
| Admin fee / account holder | $120 | $419-71.4% | $5,586-97.9% | $504-76.2% |