Filed November 2, 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 | $59,078 | $76,551-22.8% | $123,894-52.3% | $62,881-6.0% |
| Participation rate | 54.7% | 73.0%-18.3pp | 81.4%-26.7pp | 69.3%-14.6pp |
| Annual return | 8.92% | 18.68%-9.8pp | 47.52%-38.6pp | 20.14%-11.2pp |
| Employer contribution / active EE | $0 | $2,882-100.0% | $4,617-100.0% | $2,281-100.0% |
| Participant deferral / active EE | $3,448 | $4,840-28.8% | $5,984-42.4% | $3,203+7.7% |
| Admin fee / account holder | $1,731 | $4,826-64.1% | $8,357-79.3% | $4,296-59.7% |