Transamerica Corporation 401(k) Review & Grade
Transamerica 401(k) Retirement Savings Plan
Cedar Rapids, IAFinance & Insurance7,912 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$4,140Employer $ per active participant
$9,835Employee $ saved per active participant
0.00%Direct admin cost, % of plan assets
$2.7BNet plan assets, end of year
$195,577Average balance per account
Score breakdown
- Employer generosity23.5 / 5047th percentile for employer $ per participant
- Low cost25.0 / 25100th percentile for low admin cost vs. same-size plans
- Employee saving9.8 / 1565th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score65 / 100 · Grade B
This plan vs. peers
Peers: Finance & Insurance plans with 2,500–9,999 active participants (199 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 47th |
| Lower admin cost | 100th |
| Employee saving | 65th |
| Peers that auto-enroll | 66% |
Red flags from the filing
Corrective distributions: the plan refunded $1,033 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Transamerica put in about $4,140 per active participant, below the typical peer ($4,489). Any match is still an instant return, so contribute enough to get all of it.
- The filing shows total dollars, not the match formula. Ask HR for the Summary Plan Description so you know the exact match and vesting schedule.
- Fund expense ratios aren't in the filing. Look them up in your 404(a)(5) fee disclosure and favor low-cost index or target-date funds.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- Changing jobs? You can usually leave the money in the plan, move it to your new employer's plan, or roll it into an IRA. Don't cash out: you'd owe taxes and possibly a 10% penalty.
The raw numbers from the filing
| Employer contributions | $32,752,404 |
| Participant (employee) contributions | $77,807,892 |
| Other contributions (incl. rollovers in) | $20,344,202 |
| Administrative expenses paid from the plan | $10,840 |
| Benefits paid out | $206,141,146 |
| Net assets, start / end of year | $2.4B / $2.7B |
| Active participants, start / end of year | 8,059 / 7,764 |
| Participants with account balances | 13,910 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Forvis Mazars, LLP |
| Employer stock held by plan | $37,121,122 |
Largest service providers (Schedule C)
| Beacon Capital, LLC | $14,738 reported compensation |
| Check Capital Management Inc | $13,725 reported compensation |
| Charles Schwab & Co., Inc. | $11,411 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015124501NAL0009292178002, received 2025-10-15, EIN 42-1484983, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.
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