Filed December 13, 2022
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| Provider | Service type | Compensation |
|---|---|---|
CHARLES SCHWAB & CO., INC.8 years Filed as: SCHWAB RETIREMENT PLAN SERVICES,INC Service code 15 · EIN 34-1479833 | Recordkeeping | $106,119 |
CHARLES SCHWAB & CO., INC.10+ years Service code 33 · EIN 94-1737782 | Direct payment from the plan; Securit... | $554 |
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.
Plan reported corrective distributions (failed ADP/ACP testing).
The auditor signed off without reservation. This is the cleanest opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $243,878 | $113,016+115.8% | $103,476+135.7% | $74,495+227.4% |
| Participation rate | 94.2% | 80.8%+13.4pp | 80.5%+13.7pp | 67.2%+27.0pp |
| Annual return | 10.44% | 23.24%-12.8pp | 23.90%-13.5pp | 1364.94%-1354.5pp |
| Employer contribution / active EE | $12,472 | $4,881+155.5% | $4,672+167.0% | $2,623+375.5% |
| Participant deferral / active EE | $13,206 | $7,279+81.4% | $6,623+99.4% | $4,346+203.9% |
| Admin fee / account holder | $667 | $1,709-60.9% | $9,413-92.9% | $1,942-65.6% |