Filed July 21, 2023
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: WEALTH ENHANCEMENT ADVISORY SERVICE Service code 27 505 HIGHWAY 169 N STE 900 · PLYMOUTH, MN 55441 | Advisory (Plan) | $32,266 |
AMERICAN FUNDS4 years Filed as: CAPITAL GROUP RETIREMENT PLAN SVCS. Service code 25 · EIN 82-4555287 | Directed Trustee | $13,185 |
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
The auditor signed off without reservation. This is the cleanest opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $135,277 | $96,484+40.2% | $156,263-13.4% | $74,304+82.1% |
| Participation rate | 75.2% | 67.7%+7.6pp | 78.9%-3.7pp | 60.3%+14.9pp |
| Annual return | 18.76% | 17.73%+1.0pp | 59.47%-40.7pp | 29.43%-10.7pp |
| Employer contribution / active EE | $2,486 | $2,528-1.7% | $4,333-42.6% | $2,241+10.9% |
| Participant deferral / active EE | $5,541 | $4,286+29.3% | $6,158-10.0% | $3,767+47.1% |
| Admin fee / account holder | $402 | $3,728-89.2% | $14,255-97.2% | $2,969-86.5% |