Filed October 30, 2020 (most recent of 3 filings on file)
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Participant 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 | $55,796 | $58,493-4.6% | $84,021-33.6% | $72,975-23.5% |
| Participation rate | 21.0% | 61.2%-40.2pp | 69.0%-48.0pp | 69.5%-48.5pp |
| Annual return | 25.33% | 28.93%-3.6pp | 71.32%-46.0pp | 81.01%-55.7pp |
| Employer contribution / active EE | $0 | $1,163-100.0% | $1,984-100.0% | $2,440-100.0% |
| Participant deferral / active EE | $788 | $2,394-67.1% | $3,239-75.7% | $3,608-78.2% |
| Admin fee / account holder | $2,030 | $4,569-55.6% | $6,102-66.7% | $5,124-60.4% |