Filed August 22, 2016 (most recent of 9 filings on file)
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
More than 10% of assets are held in cash - possible menu-design or default-fund problem.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Plan reported corrective distributions (failed ADP/ACP testing).
Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $35,277 | $63,924-44.8% | $108,582-67.5% | $55,167-36.1% |
| Participation rate | 59.5% | 74.3%-14.9pp | 79.6%-20.1pp | 69.0%-9.5pp |
| Annual return | 13.27% | 15.31%-2.0pp | -51.70%+65.0pp | 169.23%-156.0pp |
| Employer contribution / active EE | $1,019 | $1,879-45.8% | $3,758-72.9% | $1,963-48.1% |
| Participant deferral / active EE | $1,602 | $3,067-47.8% | $4,311-62.8% | $3,054-47.6% |
| Admin fee / account holder | $196 | $618-68.2% | $7,645-97.4% | $504-61.0% |