Filed February 17, 2022
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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 | $15,105 | $77,816-80.6% | $123,552-87.8% | $64,173-76.5% |
| Participation rate | 48.9% | 74.7%-25.8pp | 82.3%-33.4pp | 69.6%-20.6pp |
| Annual return | -8.11% | 12.49%-20.6pp | 119.20%-127.3pp | 7.63%-15.7pp |
| Employer contribution / active EE | $1,298 | $3,014-56.9% | $4,628-72.0% | $2,381-45.5% |
| Participant deferral / active EE | $2,962 | $5,240-43.5% | $6,426-53.9% | $3,470-14.6% |
| Admin fee / account holder | $2,988 | $5,519-45.9% | $9,285-67.8% | $4,887-38.9% |