Filed September 4, 2020
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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 | $11,439 | $138,075-91.7% | $123,552-90.7% | $135,379-91.6% |
| Participation rate | 61.9% | 84.7%-22.8pp | 82.3%-20.4pp | 82.6%-20.7pp |
| Annual return | -6.37% | 153.70%-160.1pp | 119.20%-125.6pp | 519.79%-526.2pp |
| Employer contribution / active EE | $2,144 | $5,152-58.4% | $4,628-53.7% | $4,779-55.1% |
| Participant deferral / active EE | $3,110 | $6,800-54.3% | $6,426-51.6% | $5,609-44.6% |
| Admin fee / account holder | $2,978 | $10,917-72.7% | $9,285-67.9% | $10,828-72.5% |