26-0694

Description

Title: Report

Summary

The Prism Report provides a retirement plan fee benchmarking analysis for the City of Delray Beach, comparing its plan with a universe of 546 plans. The Delray Beach retirement plan, managed by Empower, has assets totaling approximately $103.2 million and serves 1,023 participants. The report highlights key fee types, including total costs, investment fees, recordkeeping fees, and advisory fees. Delray Beach's total fees are approximately $330,311, which is lower than the average of $392,244 for similar plans. This analysis is crucial for transparency in municipal finance, ensuring that public sector employees have insight into the costs associated with their retirement plans, ultimately affecting their retirement security.