Filed October 23, 2020
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| Provider | Service type | Compensation |
|---|---|---|
USI CONSULTING GROUP1 year Filed as: USI ADVISORS, INC. Service code 26 · EIN 06-1397347 | Advisory (Participants) | $35,835 |
CHARLES SCHWAB & CO., INC.4+ years Filed as: CHARLES SCHWAB & CO., INC Service code 18 | Custodial (securities); Custodial (ot... | $0 |
CHARLES SCHWAB & CO., INC.4+ years Service code 18 · EIN 94-1737782 | Custodial (other than securities); Cu... | $0 |
CHARLES SCHWAB & CO., INC.4+ years Filed as: CHARLES SCHWAB BANK Service code 18 · EIN 42-1558009 | Shareholder servicing fees; Investmen... | $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.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
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 | $57,572 | $107,440-46.4% | $105,736-45.6% | $55,725+3.3% |
| Participation rate | 13.9% | 55.5%-41.6pp | 76.3%-62.5pp | 70.9%-57.0pp |
| Annual return | -5.90% | -0.59%-5.3pp | 6.27%-12.2pp | 244.93%-250.8pp |
| Employer contribution / active EE | $250 | $1,448-82.7% | $3,268-92.4% | $2,078-88.0% |
| Participant deferral / active EE | $821 | $2,171-62.2% | $4,080-79.9% | $3,356-75.5% |
| Admin fee / account holder | $484 | $283+70.9% | $6,913-93.0% | $115+320.4% |