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 | $116,247 | $78,428+48.2% | $95,960+21.1% | $79,852+45.6% |
| Participation rate | 49.1% | 73.5%-24.4pp | 77.1%-28.0pp | 69.6%-20.5pp |
| Annual return | 11.10% | 19.37%-8.3pp | 91.63%-80.5pp | 31.72%-20.6pp |
| Employer contribution / active EE | $0 | $1,945-100.0% | $2,541-100.0% | $2,471-100.0% |
| Participant deferral / active EE | $2,597 | $3,440-24.5% | $4,167-37.7% | $3,740-30.6% |
| Admin fee / account holder | $9,282 | $5,622+65.1% | $6,797+36.6% | $5,306+74.9% |