Filed December 13, 2022
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| Provider | Service type | Compensation |
|---|---|---|
CHARLES SCHWAB & CO., INC.3 years Filed as: SCHWAB RETIREMENT PLAN SERVICES,INC Service code 15 · EIN 34-1479833 | Recordkeeping | $94,902 |
CHARLES SCHWAB & CO., INC.5+ years Service code 33 · EIN 94-1737782 | Securities brokerage; Direct payment ... | $54 |
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 | $225,229 | $103,685+117.2% | $105,387+113.7% | $65,185+245.5% |
| Participation rate | 99.0% | 83.2%+15.8pp | 82.6%+16.5pp | 70.2%+28.8pp |
| Annual return | 16.54% | 23.88%-7.3pp | 26.82%-10.3pp | 29.38%-12.8pp |
| Employer contribution / active EE | $9,810 | $3,842+155.4% | $4,213+132.8% | $2,177+350.7% |
| Participant deferral / active EE | $10,227 | $5,634+81.5% | $5,502+85.9% | $3,514+191.0% |
| Admin fee / account holder | $664 | $399+66.5% | $6,559-89.9% | $847-21.7% |