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 | $110,137-73.5% | $161,149-81.9% | $82,637-64.7% |
| Participation rate | 69.6% | 72.4%-2.8pp | 78.8%-9.3pp | 68.1%+1.5pp |
| Annual return | 17.02% | 20.69%-3.7pp | 21.16%-4.1pp | 53.51%-36.5pp |
| Employer contribution / active EE | $824 | $2,856-71.1% | $4,360-81.1% | $2,552-67.7% |
| Participant deferral / active EE | $1,832 | $4,575-60.0% | $6,153-70.2% | $4,126-55.6% |
| Admin fee / account holder | $346 | $9,467-96.3% | $15,194-97.7% | $7,339-95.3% |