Filed February 10, 2022
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| Provider | Service type | Compensation |
|---|---|---|
ASCENSUS LLC2 years Filed as: FUTUREPLAN BY ASCENSUS Service code 15 · EIN 82-3719843 | Recordkeeping | $28,898 |
Filed as: TRANSAMERICA LIFE INSURANCE COMPANY Service code 15 · EIN 39-0989781 | Recordkeeping | $7,023 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Participant 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.
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 | $12,697 | $42,367-70.0% | $79,583-84.0% | $64,824-80.4% |
| Participation rate | 40.5% | 64.7%-24.2pp | 69.5%-29.0pp | 71.5%-31.0pp |
| Annual return | -17.52% | -12.24%-5.3pp | 0.16%-17.7pp | 32.84%-50.4pp |
| Employer contribution / active EE | $408 | $1,181-65.4% | $2,414-83.1% | $2,507-83.7% |
| Participant deferral / active EE | $1,278 | $3,168-59.7% | $3,986-67.9% | $4,311-70.4% |
| Admin fee / account holder | $86 | $160-46.1% | $6,835-98.7% | $188-54.3% |