Filed July 6, 2021
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Participant 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 | $32,741 | $100,060-67.3% | $149,721-78.1% | $70,126-53.3% |
| Participation rate | 37.0% | 83.6%-46.6pp | 87.1%-50.1pp | 69.5%-32.6pp |
| Annual return | 13.94% | 27.46%-13.5pp | 1501.67%-1487.7pp | 73.15%-59.2pp |
| Employer contribution / active EE | $0 | $3,661-100.0% | $5,444-100.0% | $2,343-100.0% |
| Participant deferral / active EE | $1,696 | $4,982-66.0% | $6,568-74.2% | $3,332-49.1% |
| Admin fee / account holder | $1,874 | $8,285-77.4% | $11,282-83.4% | $4,645-59.7% |