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 | $22,200 | $60,349-63.2% | $74,184-70.1% | $62,881-64.7% |
| Participation rate | 66.7% | 72.7%-6.1pp | 76.6%-10.0pp | 69.3%-2.6pp |
| Annual return | 13.30% | 21.38%-8.1pp | 17.74%-4.4pp | 20.14%-6.8pp |
| Employer contribution / active EE | $250 | $1,680-85.1% | $2,370-89.5% | $2,281-89.1% |
| Participant deferral / active EE | $3,901 | $2,856+36.6% | $3,550+9.9% | $3,203+21.8% |
| Admin fee / account holder | $992 | $4,261-76.7% | $5,586-82.2% | $4,296-76.9% |