Filed June 1, 2020
Total covered: 3 employees
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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 | $27,595 | $56,894-51.5% | $84,753-67.4% | $62,881-56.1% |
| Participation rate | 37.6% | 68.5%-30.9pp | 76.6%-39.0pp | 69.3%-31.7pp |
| Annual return | 6.73% | 6.30%+0.4pp | 22.78%-16.1pp | 20.14%-13.4pp |
| Employer contribution / active EE | $610 | $2,400-74.6% | $3,574-82.9% | $2,281-73.3% |
| Participant deferral / active EE | $1,023 | $2,709-62.2% | $3,712-72.4% | $3,203-68.1% |
| Admin fee / account holder | $1,367 | $3,581-61.8% | $5,333-74.4% | $4,296-68.2% |