Filed December 16, 2021
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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 | $5,353 | $31,424-83.0% | $81,473-93.4% | $69,631-92.3% |
| Participation rate | 47.7% | 50.8%-3.1pp | 68.0%-20.2pp | 70.7%-23.0pp |
| Annual return | 19.90% | 22.44%-2.5pp | 38.78%-18.9pp | 27571.02%-27551.1pp |
| Employer contribution / active EE | $145 | $1,029-85.9% | $2,568-94.4% | $2,032-92.9% |
| Participant deferral / active EE | $990 | $1,838-46.2% | $3,537-72.0% | $3,224-69.3% |
| Admin fee / account holder | $8 | $103-91.9% | $4,561-99.8% | $110-92.5% |