Filed August 18, 2022
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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).
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $74,763 | $76,407-2.2% | $150,298-50.3% | $82,448-9.3% |
| Participation rate | 37.5% | 66.4%-28.9pp | 77.8%-40.3pp | 68.1%-30.6pp |
| Annual return | 14.96% | 39.99%-25.0pp | 62.79%-47.8pp | 41.64%-26.7pp |
| Employer contribution / active EE | $0 | $2,614-100.0% | $4,154-100.0% | $2,551-100.0% |
| Participant deferral / active EE | $3,500 | $3,214+8.9% | $5,453-35.8% | $4,139-15.4% |
| Admin fee / account holder | $7,710 | $6,352+21.4% | $14,116-45.4% | $7,234+6.6% |