Filed April 6, 2021
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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 | $27,818 | $101,672-72.6% | $147,117-81.1% | $74,478-62.6% |
| Participation rate | 31.7% | 75.5%-43.9pp | 82.2%-50.5pp | 67.2%-35.6pp |
| Annual return | 17.43% | 8757.83%-8740.4pp | 420.54%-403.1pp | 1370.56%-1353.1pp |
| Employer contribution / active EE | $0 | $3,813-100.0% | $4,932-100.0% | $2,626-100.0% |
| Participant deferral / active EE | $3,006 | $7,305-58.8% | $8,065-62.7% | $4,350-30.9% |
| Admin fee / account holder | $9,469 | $1,753+440.1% | $12,993-27.1% | $1,946+386.6% |