Filed January 13, 2022
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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 | $12,783 | $76,551-83.3% | $123,894-89.7% | $62,881-79.7% |
| Participation rate | 67.3% | 73.0%-5.7pp | 81.4%-14.1pp | 69.3%-2.0pp |
| Annual return | 24.73% | 18.68%+6.1pp | 47.52%-22.8pp | 20.14%+4.6pp |
| Employer contribution / active EE | $1,741 | $2,882-39.6% | $4,617-62.3% | $2,281-23.7% |
| Participant deferral / active EE | $3,329 | $4,840-31.2% | $5,984-44.4% | $3,203+3.9% |
| Admin fee / account holder | $441 | $4,826-90.9% | $8,357-94.7% | $4,296-89.7% |