Filed December 8, 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 | $21,938 | $82,133-73.3% | $147,318-85.1% | $64,097-65.8% |
| Participation rate | 50.7% | 62.3%-11.5pp | 82.1%-31.3pp | 55.2%-4.4pp |
| Annual return | 19.44% | 78.78%-59.3pp | 70.43%-51.0pp | 34.64%-15.2pp |
| Employer contribution / active EE | $512 | $2,872-82.2% | $4,593-88.8% | $1,891-72.9% |
| Participant deferral / active EE | $1,443 | $5,407-73.3% | $7,906-81.7% | $3,080-53.1% |
| Admin fee / account holder | $575 | $3,730-84.6% | $13,708-95.8% | $3,454-83.3% |