Filed February 18, 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.)
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 | $27,674 | $81,358-66.0% | $155,556-82.2% | $80,959-65.8% |
| Participation rate | 31.9% | 66.3%-34.4pp | 78.2%-46.3pp | 67.7%-35.8pp |
| Annual return | 11.12% | 33.39%-22.3pp | 64.84%-53.7pp | 35.67%-24.5pp |
| Employer contribution / active EE | $960 | $3,106-69.1% | $4,675-79.5% | $2,757-65.2% |
| Participant deferral / active EE | $2,977 | $3,455-13.9% | $5,631-47.1% | $4,300-30.8% |
| Admin fee / account holder | $3,712 | $7,994-53.6% | $15,885-76.6% | $6,925-46.4% |