Filed October 13, 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.)
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 | $13,694 | $77,962-82.4% | $178,540-92.3% | $80,935-83.1% |
| Participation rate | 63.0% | 65.7%-2.7pp | 77.1%-14.1pp | 67.7%-4.7pp |
| Annual return | 13.17% | 18.10%-4.9pp | 27.15%-14.0pp | 35.66%-22.5pp |
| Employer contribution / active EE | $1,321 | $2,280-42.1% | $3,953-66.6% | $2,757-52.1% |
| Participant deferral / active EE | $2,230 | $4,404-49.4% | $6,281-64.5% | $4,299-48.1% |
| Admin fee / account holder | $360 | $7,156-95.0% | $10,424-96.5% | $6,924-94.8% |