Filed April 6, 2021
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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.)
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 | $22,955 | $45,872-50.0% | $77,081-70.2% | $68,495-66.5% |
| Participation rate | 33.0% | 55.9%-23.0pp | 67.9%-35.0pp | 67.9%-34.9pp |
| Annual return | -17.05% | 1.73%-18.8pp | 42.33%-59.4pp | -7.84%-9.2pp |
| Employer contribution / active EE | $0 | $1,650-100.0% | $2,813-100.0% | $2,596-100.0% |
| Participant deferral / active EE | $2,681 | $2,963-9.5% | $4,428-39.5% | $4,028-33.4% |
| Admin fee / account holder | $3,226 | $3,041+6.1% | $5,427-40.6% | $5,403-40.3% |