Filed July 14, 2021
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $10,834 | $84,236-87.1% | $170,435-93.6% | $70,126-84.6% |
| Participation rate | 42.9% | 70.8%-28.0pp | 83.6%-40.7pp | 69.5%-26.7pp |
| Annual return | 10.63% | 23.06%-12.4pp | 205.94%-195.3pp | 73.15%-62.5pp |
| Employer contribution / active EE | $510 | $3,387-84.9% | $5,432-90.6% | $2,343-78.2% |
| Participant deferral / active EE | $1,683 | $3,086-45.5% | $4,939-65.9% | $3,332-49.5% |
| Admin fee / account holder | $1,116 | $5,698-80.4% | $13,881-92.0% | $4,645-76.0% |