Filed June 10, 2022
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Participant contribution per participant is in the bottom quintile of the peer cohort.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Annual investment return 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).
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $7,973 | $89,367-91.1% | $141,191-94.4% | $72,975-89.1% |
| Participation rate | 58.1% | 75.1%-17.1pp | 82.5%-24.4pp | 69.5%-11.4pp |
| Annual return | 17.61% | 111.87%-94.3pp | 71.41%-53.8pp | 81.01%-63.4pp |
| Employer contribution / active EE | $863 | $3,115-72.3% | $4,736-81.8% | $2,440-64.6% |
| Participant deferral / active EE | $1,498 | $5,419-72.4% | $6,710-77.7% | $3,608-58.5% |
| Admin fee / account holder | $2,011 | $5,957-66.2% | $10,264-80.4% | $5,124-60.7% |