Iowa › Finance and insurance › 1,000 to 4,999 participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
Choice Pooled Employer Plan III
Sponsored by Administrative Group, LLC DBA Transamerica Fiduciary Services, Cedar Rapids, IA
Form 5500 information is as filed by the plan administrator with the Department of Labor and may be amended. Figures reflect the plan year shown, not current balances. Form 5500 contains no individual account balances. Look up the original filing at EFAST2.
Choice Pooled Employer Plan III is a 401(k) plan sponsored by Administrative Group, LLC DBA Transamerica Fiduciary Services of Cedar Rapids, Iowa. For the plan year ending 31 Dec 2024 it reported 3,224 participants, 2,783 of them active, and net assets of $53.0M. It is a multiple-employer plan covering the employees of more than one employer.
Net assets came to $16,438 per participant, well below the $50,295 median for defined contribution plans with 1,000 to 4,999 participants and well below the $92,294 median for defined contribution plans in finance and insurance. The figure is an average across everyone in the plan, including former employees with small balances; Form 5500 holds no individual account data.
The employer contributed $1.5M during the year, or $556 per active participant against a same-size median of $2,045; participants contributed $3.0M and $851K arrived as rollovers and other contributions. Benefits paid out totalled $4.5M.
Schedule C lists 14 service provider organisations paid $5,000 or more, with reported compensation of $195K: $60.54 per participant, well below the same-size median of $82.08. Administrative expenses charged to the plan were $202K. Schedule C does not capture every cost: fees netted from fund returns and fees the employer pays directly are outside it.
Across the filings on record, net assets went from $8.3M in 2022 to $53.0M in 2024 (up 538%), and participants from 307 to 3,224 (up 950%).
The independent accountant's opinion on the financial statements was unmodified (unqualified), from an audit whose scope was limited under ERISA section 103(a)(3)(C) to exclude investment information certified by a bank or insurer.
Compared with similar plans
| Measure | This plan | Same size | Same industry | All US DC plans |
|---|---|---|---|---|
| Net assets per participant | $16,438 | $50,295 | $92,294 | $53,102 |
| Employer contributions per active participant | $556 | $2,045 | $3,564 | $2,175 |
| Schedule C compensation per participant | $60.54 | $82.08 | $137 | $123 |
| Schedule C compensation, share of net assets | 0.37% | 0.17% | 0.17% | 0.26% |
| Administrative expenses per participant | $62.62 | $82.20 | $130 | $116 |
Peer columns are medians for plan year 2024 across defined contribution plans with 100 or more participants: 1,000 to 4,999 participants (10,207 plans), finance and insurance (4,391) and all US plans (63,460). Fee medians cover plans that report an amount.
Trend by plan year
| Plan year | Participants | Net assets | Per participant | Employer contributions | Participant contributions | Schedule C compensation |
|---|---|---|---|---|---|---|
| 2024 | 3,224 | $53.0M | $16,438 | $1.5M | $3.0M | $195K |
| 2023 | 424 | $10.8M | $25,495 | $518K | $1.2M | $93K |
| 2022 | 307 | $8.3M | $27,062 | $488K | $558K | $53K |
Years in which the plan filed the full Form 5500 with 100 or more participants, from 2009. Plan year is the year in which the plan year began. Earlier years filed under the plan's previous EIN or plan number are included.
Statement for the year
- Net assets, beginning of year$10,810,342
- Employer contributions$1,547,667
- Participant contributions$2,964,591
- Rollovers and other contributions$850,953
- Total contributions$5,363,211
- Total income, including investment results$7,015,174
- Benefits paid$4,495,619
- Administrative expenses$201,874
- Total expenses$4,697,493
- Net income$2,317,681
- Net transfers$39,867,643
- Net assets, end of year$52,995,666
Participants
- Active participants2,783
- Retired or separated, receiving benefits2
- Retired or separated, entitled to future benefits439
- Participants with account balances2,442
- Total participants, end of year3,224
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Admin. Group, LLC DBA Tag Resources | Recordkeeping and information management; Participant loan processing | $83,740 | $0 |
| Transamerica Retirement Solutions | Recordkeeping and information management; Participant loan processing | $52,398 | $0 |
| The o.n. Equity Sales Company | Investment advisory (plan) | $16,677 | $0 |
| Transamerica Financial Life Ins. Co. | Recordkeeping and information management; Participant loan processing | $15,849 | $0 |
| Morgan Stanley | Investment advisory (plan) | $11,972 | $0 |
| SWBC Investment Services, LLC | Investment advisory (plan) | $5,751 | $0 |
| LPL Financial Corporation | Investment advisory (plan) | $2,185 | $0 |
| Mutual Securities, Inc. of Calif. | Other services | $2,021 | $0 |
| Gallagher Fiduciary Advisors LLC | Investment advisory (plan) | $1,886 | $0 |
| Rpa Financial LLC | Investment advisory (plan) | $829 | $0 |
| Transamerica Trust Company | Trustee (bank, trust company, or similar financial institution) | $713 | $0 |
| Revalue LLC | Investment advisory (plan) | $623 | $0 |
Schedule C, Part I line 2: providers that received $5,000 or more, with the form's own service codes. 2 smaller rows are not shown. Individuals named on Schedule C (plan employees, individual trustees) are never shown and their compensation is excluded. Eligible indirect compensation disclosed by formula carries no dollar amount. See how to read Schedule C fees.
Administrative expenses on Schedule H
- Contract administrator fees$83,740
- Recordkeeping fees$68,247
- Investment advisory and management fees$46,592
- Other administrative expenses$2,582
- Other trustee fees and expenses$713
- Total administrative expenses$201,874
Investment structure
Assets at year end by Schedule H category. The form shows the kind of vehicle holding the money, not the funds on the menu.
- Pooled separate accounts$30.6M · 57.7%
- Registered investment companies (mutual funds)$10.6M · 20.0%
- Cash (interest and non-interest bearing)$6.5M · 12.2%
- Insurance company general account$2.6M · 5.0%
- Common/collective trusts$1.9M · 3.6%
- Receivables$633K · 1.2%
- Participant loans$180K · 0.3%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)Yes
- Accounting firmTempleton & Company
- Participant contributions reported as transmitted lateYes, $115,554
- Covered by a fidelity bondYes, $500,000
- Blackout period during the yearNo
These are the plan administrator's own answers on Schedule H, Part IV. A reported late transmittal is the filer's disclosure of a timing lapse, usually corrected through the Department of Labor's voluntary program; the amount is the total involved, not a loss.
Plan characteristics
2AAge/service weighted or new comparability or similar plan2EProfit-sharing plan2JCode section 401(k) feature2KCode section 401(m) arrangement2FERISA section 404(c) plan2GTotal participant-directed account plan3DPre-approved pension plan2TTotal or partial participant-directed account plan with a default investment account
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 525100: Insurance & Employee Benefit Funds.
Other plans of Administrative Group, LLC DBA Transamerica Fiduciary Services
| Plan | Participants | Net assets |
|---|---|---|
| Transamerica Pension Plan | 29,045 | $2.20B |
| Transamerica 401(k) Retirement Savings Plan | 14,137 | $2.72B |
| Choice Pooled Employer Plan I | 5,853 | $47.0M |
| Excelwise Pooled Employer Plan | 2,866 | $55.9M |
Similar plans in Iowa
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Thrivewise Pooled Employer Plan | Principal Life Insurance Company | 9,531 | $732M | $76,786 |
| Employers Mutual Casualty Company 401(k) Savings Plan | Emc Insurance Companies | 2,956 | $555M | $187,761 |
| Transamerica 401(k) Retirement Savings Plan | Transamerica Corporation | 14,137 | $2.72B | $192,437 |
| Excelwise Pooled Employer Plan | Administrative Group, LLC DBA Transamerica Fiduciary Services | 2,866 | $55.9M | $19,498 |
| The Principal Select Savings Plan | Principal Financial Group, Inc. | 17,643 | $4.58B | $259,567 |
| Athene Savings & Retirement Plan | Apollo Management Holdings, LP | 2,577 | $352M | $136,401 |
Defined contribution plans in finance and insurance closest in size.
Questions and answers
How big is Choice Pooled Employer Plan III?
3,224 participants at the end of the plan year ending 31 Dec 2024, of whom 2,783 were active employees, with net assets of $52,995,666. Among defined contribution plans that places it in the 1,000 to 4,999 participants band, which held 10,207 plans in plan year 2024.
What does Administrative Group, LLC DBA Transamerica Fiduciary Services contribute per participant?
The filing reports $1,547,667 in employer contributions for the year, which is $556 per active participant; the median for plans of the same type and size was $2,045 in plan year 2024. Form 5500 reports the total only. It does not state the match formula, and the per-participant figure is an average, not any one person's contribution.
What fees does the plan pay and how do they compare?
Schedule C reports $195,193 in compensation to service provider organisations, $60.54 per participant or 0.37% of net assets. The same-size median among plans reporting any Schedule C compensation was $82.08 per participant. Administrative expenses on Schedule H were $201,874. Investment costs deducted inside mutual funds and other pooled vehicles are not itemised on Form 5500, so these figures are a floor rather than a full cost.
Who runs the plan?
The sponsor is Administrative Group, LLC DBA Transamerica Fiduciary Services. Recordkeeping or administration: Admin. Group, LLC DBA Tag Resources, Transamerica Retirement Solutions and Transamerica Financial Life Ins. Co.. Investment advisory or management: The o.n. Equity Sales Company, Morgan Stanley and SWBC Investment Services, LLC. Trustee or custodian: Transamerica Trust Company. The financial statements were audited by Templeton & Company. Form 5500 also names the plan administrator's signer and other individuals; this site publishes organisations only.
Was the audit opinion unqualified?
The filing reports an unmodified (unqualified) opinion from a limited-scope audit, in which the accountant did not audit investment information certified by a bank or insurance company. Unmodified (formerly "unqualified") is the standard clean opinion.
How current is this, and does it show my balance?
This is the Form 5500 for the plan year 1 Jan 2024 to 31 Dec 2024, received by the Department of Labor on 15 Oct 2025. Filings are due seven months after the plan year ends, or nine and a half with an extension, so the public record always runs a year or more behind. It contains plan-level totals only: no individual balances, contributions or names of participants exist in the data.
Provenance
Source: U.S. Department of Labor, Employee Benefits Security Administration, Form 5500 research files (Form 5500, Schedule H, Schedule C) for plan years 2009 to 2025, public domain, with filings received through 24 Aug 2026. This page shows the latest filing on record for EIN 42-1484983, plan 010, received 15 Oct 2025; an amended filing replaces it at the next build. Medians and percentiles are computed by this site; see the methodology. Report an error through corrections.