Filed January 16, 2024
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| Provider | Service type | Compensation |
|---|---|---|
CONRAD SIEGEL1 year Service code 15 · EIN 23-1669823 | Recordkeeping | $58,150 |
PENCHECKS1 year Filed as: PENCHECKS TRUST Service code 49 · EIN 33-6134835 | Other Services | $10,595 |
BAKER TILLY US, LLP1 year Service code 10 · EIN 30-1413443 | Accounting | $5,140 |
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
More than 10% of assets are held in cash - possible menu-design or default-fund problem.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
Retirees and beneficiaries make up 25% or more of total participants - indicates an ageing workforce or a frozen plan.
Plan appears closed to new enrollment or frozen - balance-holders far exceed active participants, or the plan reports active distributions with no inflows. Exclude from peer benchmarks.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $1,366 | $139,948-99.0% | $121,663-98.9% | $154,746-99.1% |
| Participation rate | 0.0% | 78.0%-78.0pp | 74.5%-74.5pp | 80.7%-80.7pp |
| Annual return | 30.82% | 230.52%-199.7pp | 147.54%-116.7pp | 172.34%-141.5pp |
| Employer contribution / active EE | $0 | $3,521-100.0% | $3,020-100.0% | $4,379-100.0% |
| Participant deferral / active EE | $0 | $5,629-100.0% | $4,887-100.0% | $6,730-100.0% |
| Admin fee / account holder | $359 | $17,321-97.9% | $14,289-97.5% | $14,365-97.5% |