Filed December 13, 2022
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| Provider | Service type | Compensation |
|---|---|---|
CHARLES SCHWAB & CO., INC.2+ years Filed as: SCHWAB RETIREMENT PLAN SERVICES, IN Service code 15 · EIN 34-1479833 | Recordkeeping | $95,470 |
CHARLES SCHWAB & CO., INC.2+ years Service code 33 · EIN 94-1737782 | Float revenue; Securities brokerage; ... | $668 |
CHARLES SCHWAB & CO., INC.2+ 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.)
Annual investment return is in the bottom quintile of the peer cohort.
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 | $210,662 | $91,051+131.4% | $88,497+138.0% | $55,167+281.9% |
| Participation rate | 99.1% | 79.5%+19.5pp | 82.4%+16.7pp | 69.0%+30.1pp |
| Annual return | 6.06% | 9.63%-3.6pp | 7.63%-1.6pp | 169.23%-163.2pp |
| Employer contribution / active EE | $8,814 | $3,430+157.0% | $4,036+118.4% | $1,963+349.1% |
| Participant deferral / active EE | $8,816 | $4,954+78.0% | $4,899+79.9% | $3,054+188.6% |
| Admin fee / account holder | $677 | $539+25.7% | $6,220-89.1% | $504+34.4% |