Filed May 11, 2020
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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 | $25,130 | $80,983-69.0% | $96,544-74.0% | $75,177-66.6% |
| Participation rate | 46.8% | 71.8%-25.0pp | 76.0%-29.2pp | 67.2%-20.4pp |
| Annual return | 22.19% | 27.05%-4.9pp | 25.88%-3.7pp | 160.75%-138.6pp |
| Employer contribution / active EE | $706 | $2,282-69.1% | $2,966-76.2% | $2,671-73.6% |
| Participant deferral / active EE | $3,853 | $3,929-1.9% | $4,851-20.6% | $4,126-6.6% |
| Admin fee / account holder | $742 | $6,717-89.0% | $8,254-91.0% | $5,651-86.9% |