Filed July 25, 2022 (most recent of 2 filings on file)
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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.)
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 | $60,008 | $142,972-58.0% | $214,702-72.1% | $86,983-31.0% |
| Participation rate | 67.9% | 84.9%-17.0pp | 87.5%-19.6pp | 69.5%-1.7pp |
| Annual return | 15.12% | 18.49%-3.4pp | 54.55%-39.4pp | 25.83%-10.7pp |
| Employer contribution / active EE | $1,069 | $4,635-76.9% | $6,461-83.4% | $2,584-58.6% |
| Participant deferral / active EE | $3,126 | $6,568-52.4% | $9,147-65.8% | $4,194-25.5% |
| Admin fee / account holder | $1,723 | $17,617-90.2% | $19,830-91.3% | $7,856-78.1% |