Filed December 15, 2022
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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.)
Annual investment return is in the bottom quintile of the peer cohort.
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 | $11,489 | $98,776-88.4% | $149,745-92.3% | $79,856-85.6% |
| Participation rate | 97.9% | 75.8%+22.1pp | 82.5%+15.4pp | 69.6%+28.2pp |
| Annual return | 2.00% | 27.38%-25.4pp | 276.72%-274.7pp | 31.71%-29.7pp |
| Employer contribution / active EE | $4,855 | $3,217+50.9% | $4,646+4.5% | $2,471+96.5% |
| Participant deferral / active EE | $0 | $5,681-100.0% | $6,843-100.0% | $3,741-100.0% |
| Admin fee / account holder | $647 | $6,053-89.3% | $9,312-93.1% | $5,306-87.8% |