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 | $133,922-99.0% | $116,228-98.8% | $142,382-99.0% |
| Participation rate | 0.0% | 77.9%-77.9pp | 74.6%-74.6pp | 80.1%-80.1pp |
| Annual return | 30.82% | 147.76%-116.9pp | 90.06%-59.2pp | 217.08%-186.3pp |
| Employer contribution / active EE | $0 | $3,446-100.0% | $2,994-100.0% | $4,299-100.0% |
| Participant deferral / active EE | $0 | $5,672-100.0% | $4,953-100.0% | $6,507-100.0% |
| Admin fee / account holder | $359 | $14,945-97.6% | $11,989-97.0% | $12,624-97.2% |