Filed February 5, 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 | $12,970 | $65,083-80.1% | $143,788-91.0% | $66,930-80.6% |
| Participation rate | 46.6% | 65.2%-18.6pp | 80.3%-33.7pp | 69.8%-23.2pp |
| Annual return | -12.44% | -11.13%-1.3pp | -0.03%-12.4pp | 1.57%-14.0pp |
| Employer contribution / active EE | $487 | $2,361-79.4% | $4,952-90.2% | $2,545-80.8% |
| Participant deferral / active EE | $2,317 | $2,920-20.6% | $5,638-58.9% | $4,238-45.3% |
| Admin fee / account holder | $362 | $502-28.0% | $14,675-97.5% | $593-39.1% |