Filed September 4, 2020
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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 | $22,038 | $98,760-77.7% | $149,715-85.3% | $79,858-72.4% |
| Participation rate | 74.1% | 75.8%-1.7pp | 82.5%-8.4pp | 69.6%+4.4pp |
| Annual return | 26.85% | 27.43%-0.6pp | 276.66%-249.8pp | 31.72%-4.9pp |
| Employer contribution / active EE | $2,330 | $3,217-27.6% | $4,645-49.8% | $2,471-5.7% |
| Participant deferral / active EE | $6,144 | $5,681+8.2% | $6,842-10.2% | $3,740+64.3% |
| Admin fee / account holder | $898 | $6,053-85.2% | $9,310-90.4% | $5,306-83.1% |