Filed October 11, 2020
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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 | $15,832 | $71,197-77.8% | $93,669-83.1% | $80,925-80.4% |
| Participation rate | 22.4% | 60.4%-38.0pp | 68.7%-46.4pp | 67.7%-45.3pp |
| Annual return | 15.83% | 11.27%+4.6pp | 133.59%-117.8pp | 35.65%-19.8pp |
| Employer contribution / active EE | $444 | $1,565-71.6% | $2,424-81.7% | $2,756-83.9% |
| Participant deferral / active EE | $1,542 | $4,036-61.8% | $4,416-65.1% | $4,299-64.1% |
| Admin fee / account holder | $2,510 | $6,959-63.9% | $8,291-69.7% | $6,940-63.8% |