Filed December 16, 2020
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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 | $15,861 | $72,273-78.1% | $101,275-84.3% | $79,856-80.1% |
| Participation rate | 69.7% | 68.5%+1.2pp | 75.8%-6.1pp | 69.6%+0.1pp |
| Annual return | 29.93% | 22.30%+7.6pp | 46.48%-16.5pp | 31.71%-1.8pp |
| Employer contribution / active EE | $2,058 | $2,691-23.5% | $3,660-43.8% | $2,471-16.7% |
| Participant deferral / active EE | $3,007 | $3,282-8.4% | $4,371-31.2% | $3,741-19.6% |
| Admin fee / account holder | $396 | $4,401-91.0% | $5,948-93.3% | $5,306-92.5% |