Filed March 11, 2022
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer 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.
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 | $28,415 | $42,383-33.0% | $76,518-62.9% | $64,173-55.7% |
| Participation rate | 17.4% | 58.1%-40.8pp | 68.0%-50.6pp | 69.6%-52.2pp |
| Annual return | -15.12% | -16.54%+1.4pp | -0.27%-14.9pp | 7.63%-22.8pp |
| Employer contribution / active EE | $5 | $1,563-99.7% | $2,647-99.8% | $2,381-99.8% |
| Participant deferral / active EE | $2,948 | $2,566+14.9% | $3,836-23.1% | $3,470-15.0% |
| Admin fee / account holder | $1,594 | $3,198-50.2% | $4,849-67.1% | $4,887-67.4% |