Filed April 27, 2022
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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.)
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 | $13,759 | $75,183-81.7% | $123,894-88.9% | $55,167-75.1% |
| Participation rate | 20.0% | 72.8%-52.8pp | 81.4%-61.4pp | 69.0%-49.0pp |
| Annual return | 8.97% | 19.01%-10.0pp | 47.52%-38.5pp | 169.23%-160.3pp |
| Employer contribution / active EE | $0 | $2,823-100.0% | $4,617-100.0% | $1,963-100.0% |
| Participant deferral / active EE | $830 | $5,084-83.7% | $5,984-86.1% | $3,054-72.8% |
| Admin fee / account holder | $984 | $663+48.6% | $8,357-88.2% | $504+95.3% |