1 critical issue
Vrc Engineered Solutions
84-2371736· Milwaukee, WI· Transamerica· 2024 filing· vs 366 plans your size in your industry
D
0/100
Overall grade
Below average. Several areas need attention.
D
Fees
C
Financial Wellness
D
Plan design
D
Compliance
Fees
Your plan pays around 51 bps of assets per year. Similar plans pay around 28 bps. Your plan is more expensive than about 78% of similar plans.
cheaper78th percentilepricier
Financial Wellness
Below-average savings. Employees put away $2,889/employee a year. That's less than 60% of similar plans.
lower40th percentilehigher
Plan design
Good base, but no automatic enrollment. That's the top thing to add.
Employer match
The plan matches employee contributions, the single strongest driver of participation and savings.
Profit sharing
The employer also makes profit-sharing contributions on top of the match.
No automatic enrollment
Employees have to opt in themselves. Auto-enrollment is the easiest way to lift participation, and most newly started plans are now required to include it.
Safe harbor not reported
The filing does not establish whether this plan uses a safe harbor design, so it does not affect the grade.
Default investment (QDIA)
Employees who never pick investments land in a sensible default, usually a target-date fund, instead of cash.
No brokerage window
Employees can only invest through the plan's core fund menu. A brokerage window opens the wider market for people who want more control.
Compliance & health
1 critical issue on the latest filing. These need attention.
Late employee deposits
Employee 401(k) deposits didn't reach the plan on time. The DOL treats this as a prohibited transaction, and it's one of the most common audit triggers. It needs a formal correction, not just a late deposit.
Fidelity bond below 10% of BOY assets, ERISA 412 violation
The reported ERISA fidelity bond is below the 10%-of-assets guideline based on beginning-of-year assets. Fast-growing plans can look under-bonded on paper; confirm against the plan's current bond coverage.
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Transamerica
No provider notes available.
Key insights
- Strongest area: financial wellness. Below-average savings. Employees put away $2,889/employee a year. That's less than 60% of similar plans.
- Best place to improve: fees. Your plan pays around 51 bps of assets per year. Similar plans pay around 28 bps. Your plan is more expensive than about 78% of similar plans.
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