Filed December 13, 2017
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| Provider | Service type | Compensation |
|---|---|---|
Service code 15 · EIN 36-4389114 | Recordkeeping | $6,182 |
CHARLES SCHWAB & CO., INC.1+ years Filed as: CHARLES SCHWAB BANK Service code 15 · EIN 42-1558009 | Recordkeeping | $952 |
Filed as: MUTUAL OF AMERICA LIFE INSURANCE CO Service code 18 320 PARK AVENUE · NEW YORK, NY 10022 | Custodial (other than securities) | $174 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Participant contribution per participant is in the bottom quintile of the peer cohort.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $14,342 | $46,360-69.1% | $147,617-90.3% | $52,331-72.6% |
| Participation rate | 42.6% | 64.9%-22.4pp | 84.6%-42.1pp | 68.1%-25.5pp |
| Annual return | -1.60% | 1.62%-3.2pp | 61.98%-63.6pp | 4.54%-6.1pp |
| Employer contribution / active EE | $866 | $2,126-59.3% | $5,564-84.4% | $1,882-54.0% |
| Participant deferral / active EE | $506 | $2,258-77.6% | $4,895-89.7% | $3,022-83.3% |
| Admin fee / account holder | $66 | $766-91.4% | $11,612-99.4% | $592-88.9% |