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| Provider | Service type | Compensation |
|---|---|---|
Filed as: TRANSAMERICA FINANCIAL LIFE INSURAN Service code 15 · EIN 39-0989781 | Recordkeeping | $35,635 |
Filed as: MERRILL LYNCH LIFE AGENCY INC Service code 27 · EIN 13-2808480 | Advisory (Plan) | $16,492 |
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.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
Plan reported corrective distributions (failed ADP/ACP testing).
The auditor signed off without reservation. This is the cleanest opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $11,714 | $39,973-70.7% | $79,550-85.3% | $77,904-85.0% |
| Participation rate | 11.6% | 64.6%-53.0pp | 69.5%-57.9pp | 73.7%-62.1pp |
| Annual return | -9.44% | 3.42%-12.9pp | 0.16%-9.6pp | 12.21%-21.6pp |
| Employer contribution / active EE | $0 | $1,088-100.0% | $2,413-100.0% | $2,848-100.0% |
| Participant deferral / active EE | $240 | $2,774-91.3% | $3,985-94.0% | $4,806-95.0% |
| Admin fee / account holder | $169 | $113+49.9% | $6,832-97.5% | $133+27.7% |