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 | $18,057 | $80,753-77.6% | $136,298-86.8% | $62,293-71.0% |
| Participation rate | 17.4% | 73.5%-56.1pp | 81.9%-64.5pp | 69.5%-52.1pp |
| Annual return | 20.17% | 35.83%-15.7pp | 5156.27%-5136.1pp | 28.90%-8.7pp |
| Employer contribution / active EE | $0 | $2,884-100.0% | $4,696-100.0% | $2,042-100.0% |
| Participant deferral / active EE | $642 | $5,164-87.6% | $6,247-89.7% | $3,169-79.7% |
| Admin fee / account holder | $1,222 | $525+132.6% | $9,244-86.8% | $479+154.9% |