Filed June 3, 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 | $13,695 | $80,781-83.0% | $102,437-86.6% | $74,478-81.6% |
| Participation rate | 46.2% | 65.7%-19.4pp | 74.5%-28.3pp | 67.2%-21.0pp |
| Annual return | 14.73% | 27.58%-12.8pp | 24.95%-10.2pp | 1370.56%-1355.8pp |
| Employer contribution / active EE | $1,246 | $3,160-60.6% | $3,871-67.8% | $2,626-52.6% |
| Participant deferral / active EE | $2,020 | $3,862-47.7% | $5,060-60.1% | $4,350-53.6% |
| Admin fee / account holder | $1,110 | $2,372-53.2% | $8,388-86.8% | $1,946-42.9% |