Filed December 13, 2022
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| Provider | Service type | Compensation |
|---|---|---|
CHARLES SCHWAB & CO., INC.1+ years Filed as: SCHWAB RETIREMENT PLAN SERVICES, IN Service code 15 · EIN 34-1479833 | Recordkeeping | $104,463 |
CHARLES SCHWAB & CO., INC.1+ years Service code 33 · EIN 94-1737782 | Shareholder servicing fees; Securitie... | $907 |
CHARLES SCHWAB & CO., INC.1+ years Filed as: CHARLES SCHWAB & CO. INC. AND AFFIL Service code 59 | Shareholder Servicing | $0 |
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
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 | $243,494 | $89,553+171.9% | $81,367+199.3% | $52,331+365.3% |
| Participation rate | 99.1% | 82.2%+16.8pp | 82.3%+16.8pp | 68.1%+31.0pp |
| Annual return | -0.35% | 4.41%-4.8pp | -0.92%+0.6pp | 4.54%-4.9pp |
| Employer contribution / active EE | $8,578 | $3,780+126.9% | $3,930+118.3% | $1,882+355.9% |
| Participant deferral / active EE | $9,060 | $5,359+69.0% | $5,383+68.3% | $3,022+199.8% |
| Admin fee / account holder | $791 | $1,914-58.7% | $8,926-91.1% | $592+33.8% |