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 | $78,690-41.7% | $161,489-71.6% | $87,485-47.6% |
| Participation rate | 28.2% | 67.5%-39.3pp | 78.7%-50.5pp | 68.9%-40.7pp |
| Annual return | 11.41% | 32.74%-21.3pp | 89.72%-78.3pp | 26.06%-14.6pp |
| Employer contribution / active EE | $429 | $2,588-83.4% | $4,268-89.9% | $2,596-83.5% |
| Participant deferral / active EE | $681 | $3,311-79.4% | $5,630-87.9% | $4,274-84.1% |
| Admin fee / account holder | $1,151 | $6,724-82.9% | $16,006-92.8% | $7,775-85.2% |