Filed May 11, 2020
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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.)
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 | $24,867 | $86,949-71.4% | $102,460-75.7% | $80,959-69.3% |
| Participation rate | 41.2% | 72.4%-31.2pp | 76.5%-35.3pp | 67.7%-26.5pp |
| Annual return | 21.70% | 18.89%+2.8pp | 29.47%-7.8pp | 35.67%-14.0pp |
| Employer contribution / active EE | $409 | $2,370-82.8% | $3,025-86.5% | $2,757-85.2% |
| Participant deferral / active EE | $3,195 | $4,121-22.5% | $5,056-36.8% | $4,300-25.7% |
| Admin fee / account holder | $10,722 | $8,048+33.2% | $9,460+13.3% | $6,925+54.8% |