Filed November 9, 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.)
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 | $20,591 | $43,075-52.2% | $74,577-72.4% | $62,881-67.3% |
| Participation rate | 30.8% | 58.1%-27.3pp | 68.1%-37.3pp | 69.3%-38.5pp |
| Annual return | 6.63% | 17.50%-10.9pp | 20.47%-13.8pp | 20.14%-13.5pp |
| Employer contribution / active EE | $706 | $1,498-52.9% | $2,525-72.0% | $2,281-69.0% |
| Participant deferral / active EE | $1,140 | $2,389-52.3% | $3,458-67.0% | $3,203-64.4% |
| Admin fee / account holder | $947 | $2,840-66.7% | $4,138-77.1% | $4,296-78.0% |