Filed May 19, 2023
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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.
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 | $14,520 | $110,083-86.8% | $151,639-90.4% | $68,486-78.8% |
| Participation rate | 36.9% | 84.0%-47.0pp | 87.5%-50.6pp | 67.9%-31.0pp |
| Annual return | 160.76% | -10.12%+170.9pp | 3.34%+157.4pp | -7.85%+168.6pp |
| Employer contribution / active EE | $1,476 | $4,470-67.0% | $6,165-76.1% | $2,597-43.1% |
| Participant deferral / active EE | $2,120 | $6,526-67.5% | $8,363-74.7% | $4,028-47.4% |
| Admin fee / account holder | $75 | $7,718-99.0% | $11,613-99.4% | $5,404-98.6% |