Filed December 16, 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.
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).
Plan reported corrective distributions (failed ADP/ACP testing).
Opinion is qualified - a specific issue limited the scope or accuracy of the audit.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $4,179 | $32,425-87.1% | $74,577-94.4% | $55,167-92.4% |
| Participation rate | 49.8% | 54.0%-4.2pp | 68.1%-18.3pp | 69.0%-19.2pp |
| Annual return | 32.51% | 10.63%+21.9pp | 20.47%+12.0pp | 169.23%-136.7pp |
| Employer contribution / active EE | $111 | $1,043-89.3% | $2,525-95.6% | $1,963-94.3% |
| Participant deferral / active EE | $779 | $1,995-60.9% | $3,458-77.5% | $3,054-74.5% |
| Admin fee / account holder | $3 | $748-99.5% | $4,138-99.9% | $504-99.3% |