Filed December 3, 2021
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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.)
Annual investment return is in the bottom quintile of the peer cohort.
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 | $22,529 | $82,028-72.5% | $123,105-81.7% | $59,633-62.2% |
| Participation rate | 37.9% | 83.2%-45.3pp | 86.8%-48.9pp | 68.7%-30.8pp |
| Annual return | -5.02% | 5.12%-10.1pp | 13.22%-18.2pp | 2041.45%-2046.5pp |
| Employer contribution / active EE | $1,663 | $3,297-49.6% | $5,151-67.7% | $2,203-24.5% |
| Participant deferral / active EE | $3,791 | $4,667-18.8% | $6,229-39.1% | $3,192+18.8% |
| Admin fee / account holder | $1,524 | $5,879-74.1% | $9,014-83.1% | $4,297-64.5% |