Filed June 13, 2016
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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.)
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 | $26,638 | $76,551-65.2% | $123,894-78.5% | $62,881-57.6% |
| Participation rate | 40.7% | 73.0%-32.2pp | 81.4%-40.7pp | 69.3%-28.6pp |
| Annual return | 11.92% | 18.68%-6.8pp | 47.52%-35.6pp | 20.14%-8.2pp |
| Employer contribution / active EE | $1,329 | $2,882-53.9% | $4,617-71.2% | $2,281-41.7% |
| Participant deferral / active EE | $1,929 | $4,840-60.1% | $5,984-67.8% | $3,203-39.8% |
| Admin fee / account holder | $805 | $4,826-83.3% | $8,357-90.4% | $4,296-81.3% |