Benchmarking Franklin Covey Co. 401(K) Plan in Salt Lake City, UT against all plans
Of the 26 plans in Utah, only Franklin Covey Co. 401(K) Plan in Salt Lake City, UT is higher than the overall administrative medians in each of professional fees, investment advisory and management fees, other administrative expenses, total administrative expenses, and total administrative expense ratio. Nationwide there are 142 such plans.
Franklin Covey Co. 401(K) Plan has these nationwide comparisons, plus standings among those 26 plans:
Franklin Covey Co. 401(K) Plan has these nationwide comparisons, plus standings among those 26 plans:
- professional fees = $12,140 (3rd-highest)
the nationwide median is $0 - contract administrator fees = $0 (the lowest, tied)
the nationwide median is $0 - investment advisory and management fees = $16,000 (7th-highest)
the nationwide median is $0 - other administrative expenses = $118,772 (13th-highest)
the nationwide median is $31,679 - total administrative expenses = $146,912 (8th-lowest)
the nationwide median is $138,186 - total administrative expense ratio = 0.130% (9th-lowest, tied)
the nationwide median is 0.093%
Peers
unlike Sorenson Communications, LLC. 401(K) Profit Sharing Plan in Salt Lake City, UT, Retire Ready 401(K) Plan in Provo, UT, Energysolutions, LLC 401(K) Profit Sharing Plan in Salt Lake City, UT, and Clyde Companies, Inc. 401(K) Retirement Plan in Orem, UT, and 21 others.
References
- are higher than the overall administrative medians in. Smaller sets are better. (1) The median nationwide value of professional fees is $0.00, so worse is above that. From Line 2i(1), Schedule H. Includes the total fees paid (or in the case of accrual basis plans, costs incurred during the plan year but not paid as of the end of the plan year) by the plan for outside accounting, actuarial, legal, and valuation/appraisal services. Includes fees for the annual audit of the plan by an independent qualified public accountant (IQPA); for payroll audits; for accounting/bookkeeping services; for actuarial services rendered to the plan; and to a lawyer for rendering legal opinions, litigation, and advice (but not for providing legal services as a benefit to plan participants). Reports fees and expenses for corporate trustees and individual plan trustees, including reimbursement of expenses associated with trustees, such as lost time, seminars, travel, meetings, etc. Includes the fee(s) for valuations or appraisals to determine the cost, quality, or value of an item such as real property, personal property (gemstones, coins, etc.), and for valuations of closely held securities for which there is no ready market. Does not include amounts paid to plan employees to perform bookkeeping/accounting functions that should be included in line 2i(4). A missing entry from the Schedule H is here assigned a value of $0. (2) The median nationwide value of contract administrator fees is $0.00, so worse is above that. From Line 2i(2), Schedule H. The total fees paid (or in the case of accrual basis plans, costs incurred during the plan year but not paid as of the end of the plan year) to a contract administrator for performing administrative services for the plan. For purposes of the return/report, a contract administrator is any individual, partnership, or corporation, responsible for managing the clerical operations (e.g., handling membership rosters, claims payments, maintaining books and records) of the plan on a contractual basis. Does not include salaried staff or employees of the plan or banks or insurance carriers. A missing entry from the Schedule H is here assigned a value of $0. (3) The median nationwide value of investment advisory and management fees is $0.00, so worse is above that. From Line 2i(3), Schedule H. The total fees paid (or in the case of accrual basis plans, costs incurred during the plan year but not paid as of the end of the plan year) to an individual, partnership or corporation (or other person) for advice to the plan relating to its investment portfolio. These may include fees paid to manage the plan’s investments, fees for specific advice on a particular investment, and fees for the evaluation for the plan’s investment performance. A missing entry from the Schedule H is here assigned a value of $0. (4) The median nationwide value of other administrative expenses is $31,679, so worse is above that. From Line 2i(4), Schedule H. Other expenses are those that cannot be included in 2i(1) through 2i(3). These may include plan expenditures such as salaries and other compensation and allowances (e.g., payment of premiums to provide health insurance benefits to plan employees), expenses for office supplies and equipment, cars, telephone, postage, rent, expenses associated with the ownership of a building used in the operation of the plan, and all miscellaneous expenses. Includes premium payments to the PBGC when paid from plan assets. A missing entry from the Schedule H is here assigned a value of $0. (5) The median nationwide value of total administrative expenses is $138,186, so worse is above that. From Line 2i(5), Schedule H. A missing entry from the Schedule H is here assigned a value of $0. (6) The median nationwide value of total administrative expense ratio is 0.093%, so worse is above that. Total administrative expense ratio (as a percentage) equals total administrative expenses (Line 2i(5), Schedule H) divided by total assets (Line 1f of Schedule H), multiplied by 100. Some comparison measures have prerequisites that must be satisfied in order to keep their numeric values, otherwise their value becomes N/A. Except where noted, all data come from the 25-Mar-2022 updates to the year-2020 5500 Forms and Schedule H from the public websites at the Department of Labor, Employee Benefits Security Administration.
- in state. Except where noted, all data come from the 25-Mar-2022 updates to the year-2020 5500 Forms and Schedule H from the public websites at the Department of Labor, Employee Benefits Security Administration.