Filed June 1, 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.)
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 | $16,314 | $62,672-74.0% | $185,117-91.2% | $70,126-76.7% |
| Participation rate | 50.0% | 63.8%-13.8pp | 77.3%-27.3pp | 69.5%-19.5pp |
| Annual return | 17.82% | 40.79%-23.0pp | 40.50%-22.7pp | 73.15%-55.3pp |
| Employer contribution / active EE | $630 | $1,753-64.1% | $4,182-84.9% | $2,343-73.1% |
| Participant deferral / active EE | $1,888 | $3,272-42.3% | $5,045-62.6% | $3,332-43.3% |
| Admin fee / account holder | $1,159 | $3,932-70.5% | $8,159-85.8% | $4,645-75.0% |