Filed April 28, 2021
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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.)
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 | $22,297 | $79,209-71.9% | $102,434-78.2% | $74,459-70.1% |
| Participation rate | 65.0% | 74.8%-9.7pp | 76.5%-11.5pp | 67.2%-2.2pp |
| Annual return | 15.18% | 54.98%-39.8pp | 29.46%-14.3pp | 1369.70%-1354.5pp |
| Employer contribution / active EE | $1,960 | $2,362-17.1% | $3,023-35.2% | $2,626-25.4% |
| Participant deferral / active EE | $2,875 | $4,417-34.9% | $5,055-43.1% | $4,350-33.9% |
| Admin fee / account holder | $1,099 | $2,002-45.1% | $9,462-88.4% | $1,945-43.5% |