Filed April 28, 2022
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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 | $72,213 | $115,931-37.7% | $185,441-61.1% | $86,983-17.0% |
| Participation rate | 51.1% | 73.6%-22.5pp | 80.3%-29.2pp | 69.5%-18.4pp |
| Annual return | 16.24% | 21.47%-5.2pp | 20.16%-3.9pp | 25.83%-9.6pp |
| Employer contribution / active EE | $716 | $2,937-75.6% | $4,672-84.7% | $2,584-72.3% |
| Participant deferral / active EE | $1,633 | $4,551-64.1% | $6,152-73.5% | $4,194-61.1% |
| Admin fee / account holder | $7,532 | $10,687-29.5% | $17,890-57.9% | $7,856-4.1% |