Filed August 18, 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 | $34,156 | $72,177-52.7% | $115,038-70.3% | $59,633-42.7% |
| Participation rate | 35.9% | 72.6%-36.6pp | 81.4%-45.4pp | 68.7%-32.7pp |
| Annual return | 0.15% | 12.02%-11.9pp | 26.14%-26.0pp | 2041.45%-2041.3pp |
| Employer contribution / active EE | $509 | $2,841-82.1% | $4,608-89.0% | $2,203-76.9% |
| Participant deferral / active EE | $2,002 | $4,783-58.1% | $6,026-66.8% | $3,192-37.3% |
| Admin fee / account holder | $544 | $4,927-89.0% | $8,175-93.4% | $4,297-87.3% |