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.)
Annual investment return is in the bottom quintile of the peer cohort.
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 | $21,151 | $79,557-73.4% | $118,746-82.2% | $70,126-69.8% |
| Participation rate | 51.7% | 71.4%-19.6pp | 78.3%-26.5pp | 69.5%-17.8pp |
| Annual return | 8.55% | 25.64%-17.1pp | 24.54%-16.0pp | 73.15%-64.6pp |
| Employer contribution / active EE | $0 | $2,861-100.0% | $4,193-100.0% | $2,343-100.0% |
| Participant deferral / active EE | $2,904 | $4,089-29.0% | $5,332-45.5% | $3,332-12.8% |
| Admin fee / account holder | $1,981 | $5,374-63.1% | $10,720-81.5% | $4,645-57.4% |