Filed May 14, 2021
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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.)
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 | $45,881 | $76,407-40.0% | $150,298-69.5% | $82,448-44.4% |
| Participation rate | 28.2% | 66.4%-38.2pp | 77.8%-49.6pp | 68.1%-39.9pp |
| Annual return | 11.41% | 39.99%-28.6pp | 62.79%-51.4pp | 41.64%-30.2pp |
| Employer contribution / active EE | $429 | $2,614-83.6% | $4,154-89.7% | $2,551-83.2% |
| Participant deferral / active EE | $681 | $3,214-78.8% | $5,453-87.5% | $4,139-83.6% |
| Admin fee / account holder | $1,151 | $6,352-81.9% | $14,116-91.8% | $7,234-84.1% |