Filed October 13, 2021
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| Provider | Service type | Compensation |
|---|---|---|
CAMBRIDGE WEALTH ADVISORS2+ years Service code 16 · EIN 27-0397626 | Consulting | $44,173 |
EPIC RETIREMENT PLAN SERVICES2+ years Filed as: EPIC ADVISORS, INC. Service code 15 · EIN 16-1450952 | Recordkeeping | $13,912 |
CHARLES SCHWAB & CO., INC.2+ 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.
Employer contribution per participant is in the bottom quintile of the peer cohort.
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 | $24,591 | $42,772-42.5% | $87,502-71.9% | $55,167-55.4% |
| Participation rate | 56.6% | 66.5%-9.9pp | 73.8%-17.2pp | 69.0%-12.4pp |
| Annual return | 7.63% | 21.20%-13.6pp | 12.21%-4.6pp | 169.23%-161.6pp |
| Employer contribution / active EE | $241 | $1,277-81.1% | $2,550-90.5% | $1,963-87.7% |
| Participant deferral / active EE | $1,709 | $2,342-27.0% | $3,149-45.7% | $3,054-44.0% |
| Admin fee / account holder | $293 | $461-36.4% | $4,221-93.0% | $504-41.8% |