Filed April 14, 2022
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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.)
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 | $18,082 | $132,310-86.3% | $105,754-82.9% | $273,972-93.4% |
| Participation rate | 59.1% | 83.2%-24.1pp | 78.9%-19.8pp | 83.0%-23.9pp |
| Annual return | 4.19% | 10.08%-5.9pp | 12.25%-8.1pp | 41.46%-37.3pp |
| Employer contribution / active EE | $0 | $4,867-100.0% | $4,079-100.0% | $4,869-100.0% |
| Participant deferral / active EE | $3,333 | $6,233-46.5% | $5,326-37.4% | $5,287-37.0% |
| Admin fee / account holder | $1,829 | $12,036-84.8% | $8,309-78.0% | $10,133-81.9% |