Filed July 6, 2021
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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.)
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 | $31,263 | $87,834-64.4% | $133,975-76.7% | $62,881-50.3% |
| Participation rate | 31.1% | 83.4%-52.3pp | 87.1%-56.0pp | 69.3%-38.2pp |
| Annual return | 7.13% | 12.05%-4.9pp | 29.29%-22.2pp | 20.14%-13.0pp |
| Employer contribution / active EE | $65 | $3,482-98.1% | $5,211-98.7% | $2,281-97.1% |
| Participant deferral / active EE | $2,706 | $4,812-43.8% | $6,282-56.9% | $3,203-15.5% |
| Admin fee / account holder | $5,770 | $5,372+7.4% | $9,324-38.1% | $4,296+34.3% |