Filed October 13, 2021
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| Provider | Service type | Compensation |
|---|---|---|
CAMBRIDGE WEALTH ADVISORS1+ years Service code 16 · EIN 27-0397626 | Consulting | $40,806 |
EPIC RETIREMENT PLAN SERVICES1+ years Filed as: EPIC ADVISORS, INC. Service code 15 · EIN 16-1450952 | Recordkeeping | $12,549 |
CHARLES SCHWAB & CO., INC.1+ years Filed as: CHARLES SCHWAB TRUST COMPANY Service code 19 · EIN 42-1558009 | Securities Custodian | $2,841 |
CHARLES SCHWAB & CO., INC.1+ years Service code 59 · EIN 94-1737782 | Shareholder Servicing | $0 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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.
Plan reported corrective distributions (failed ADP/ACP testing).
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 | $25,196 | $38,595-34.7% | $80,004-68.5% | $52,331-51.9% |
| Participation rate | 46.1% | 64.5%-18.5pp | 73.0%-27.0pp | 68.1%-22.1pp |
| Annual return | -0.54% | 2.04%-2.6pp | 7.63%-8.2pp | 4.54%-5.1pp |
| Employer contribution / active EE | $0 | $1,133-100.0% | $2,473-100.0% | $1,882-100.0% |
| Participant deferral / active EE | $1,303 | $2,318-43.8% | $3,204-59.3% | $3,022-56.9% |
| Admin fee / account holder | $318 | $304+4.4% | $5,033-93.7% | $592-46.3% |