Filed August 23, 2022
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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 | $19,101 | $67,606-71.7% | $82,313-76.8% | $70,124-72.8% |
| Participation rate | 68.8% | 72.8%-4.0pp | 76.9%-8.1pp | 69.5%-0.8pp |
| Annual return | 19.84% | 21.57%-1.7pp | 25.88%-6.0pp | 73.14%-53.3pp |
| Employer contribution / active EE | $705 | $1,755-59.8% | $2,428-71.0% | $2,342-69.9% |
| Participant deferral / active EE | $2,009 | $2,987-32.7% | $3,706-45.8% | $3,332-39.7% |
| Admin fee / account holder | $1,881 | $4,512-58.3% | $5,608-66.5% | $4,645-59.5% |