Filed September 20, 2022 (most recent of 2 filings on file)
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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.
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 | $21,751 | $43,075-49.5% | $74,577-70.8% | $62,881-65.4% |
| Participation rate | 25.9% | 58.1%-32.1pp | 68.1%-42.2pp | 69.3%-43.4pp |
| Annual return | 4.88% | 17.50%-12.6pp | 20.47%-15.6pp | 20.14%-15.3pp |
| Employer contribution / active EE | $0 | $1,498-100.0% | $2,525-100.0% | $2,281-100.0% |
| Participant deferral / active EE | $1,951 | $2,389-18.3% | $3,458-43.6% | $3,203-39.1% |
| Admin fee / account holder | $858 | $2,840-69.8% | $4,138-79.3% | $4,296-80.0% |