Filed November 3, 2020
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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.)
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 | $39,861 | $75,541-47.2% | $152,093-73.8% | $82,637-51.8% |
| Participation rate | 65.2% | 66.5%-1.3pp | 77.8%-12.5pp | 68.1%-2.8pp |
| Annual return | 13.99% | 32.56%-18.6pp | 66.36%-52.4pp | 53.51%-39.5pp |
| Employer contribution / active EE | $2,090 | $2,622-20.3% | $4,175-49.9% | $2,552-18.1% |
| Participant deferral / active EE | $4,033 | $3,206+25.8% | $5,451-26.0% | $4,126-2.2% |
| Admin fee / account holder | $7,674 | $6,405+19.8% | $14,497-47.1% | $7,339+4.6% |