Filed June 22, 2021
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer 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 | $20,510 | $56,199-63.5% | $67,652-69.7% | $59,632-65.6% |
| Participation rate | 58.1% | 71.5%-13.4pp | 75.7%-17.6pp | 68.7%-10.6pp |
| Annual return | 21.96% | 18505.31%-18483.4pp | 6625.04%-6603.1pp | 2041.32%-2019.4pp |
| Employer contribution / active EE | $205 | $1,614-87.3% | $2,266-91.0% | $2,203-90.7% |
| Participant deferral / active EE | $2,878 | $2,844+1.2% | $3,560-19.1% | $3,192-9.8% |
| Admin fee / account holder | $655 | $3,958-83.5% | $4,821-86.4% | $4,297-84.8% |