Filed April 27, 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 | $93,586 | $72,492+29.1% | $87,102+7.4% | $72,983+28.2% |
| Participation rate | 45.3% | 72.8%-27.5pp | 76.9%-31.6pp | 69.5%-24.2pp |
| Annual return | 16.05% | 24.46%-8.4pp | 28.19%-12.1pp | 81.01%-65.0pp |
| Employer contribution / active EE | $0 | $1,894-100.0% | $2,521-100.0% | $2,440-100.0% |
| Participant deferral / active EE | $2,493 | $3,270-23.8% | $4,048-38.4% | $3,608-30.9% |
| Admin fee / account holder | $2,430 | $5,055-51.9% | $7,491-67.6% | $5,124-52.6% |