Filed February 9, 2021
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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 | $29,180 | $114,712-74.6% | $173,730-83.2% | $87,485-66.6% |
| Participation rate | 69.6% | 73.0%-3.4pp | 79.6%-10.0pp | 68.9%+0.6pp |
| Annual return | 17.02% | 20.18%-3.2pp | 19.96%-2.9pp | 26.06%-9.0pp |
| Employer contribution / active EE | $824 | $2,904-71.6% | $4,577-82.0% | $2,596-68.3% |
| Participant deferral / active EE | $1,832 | $4,642-60.5% | $6,326-71.0% | $4,274-57.1% |
| Admin fee / account holder | $346 | $10,210-96.6% | $17,523-98.0% | $7,775-95.5% |