Filed November 17, 2020
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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 | $27,830 | $48,078-42.1% | $78,676-64.6% | $62,881-55.7% |
| Participation rate | 69.4% | 65.2%+4.2pp | 73.6%-4.1pp | 69.3%+0.1pp |
| Annual return | 6.99% | 31.36%-24.4pp | 62.19%-55.2pp | 20.14%-13.2pp |
| Employer contribution / active EE | $2,714 | $2,015+34.7% | $2,850-4.8% | $2,281+19.0% |
| Participant deferral / active EE | $2,691 | $2,587+4.0% | $3,517-23.5% | $3,203-16.0% |
| Admin fee / account holder | $638 | $3,206-80.1% | $4,510-85.9% | $4,296-85.2% |