Filed September 24, 2020
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Participant 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 | $16,707 | $70,002-76.1% | $115,038-85.5% | $52,331-68.1% |
| Participation rate | 25.2% | 72.1%-46.9pp | 81.4%-56.2pp | 68.1%-42.9pp |
| Annual return | 336.57% | 4.04%+332.5pp | 26.14%+310.4pp | 4.54%+332.0pp |
| Employer contribution / active EE | $486 | $2,715-82.1% | $4,608-89.4% | $1,882-74.1% |
| Participant deferral / active EE | $1,187 | $4,920-75.9% | $6,026-80.3% | $3,022-60.7% |
| Admin fee / account holder | $1,694 | $566+199.3% | $8,175-79.3% | $592+186.3% |