Filed March 23, 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 | $31,658 | $51,207-38.2% | $70,565-55.1% | $71,529-55.7% |
| Participation rate | 21.0% | 59.4%-38.4pp | 68.4%-47.4pp | 67.9%-46.9pp |
| Annual return | 20.28% | 42.71%-22.4pp | 32.79%-12.5pp | 28.97%-8.7pp |
| Employer contribution / active EE | $358 | $1,795-80.1% | $2,976-88.0% | $2,590-86.2% |
| Participant deferral / active EE | $1,012 | $3,033-66.6% | $4,568-77.8% | $4,291-76.4% |
| Admin fee / account holder | $1,783 | $2,002-10.9% | $6,430-72.3% | $1,588+12.3% |