Filed March 24, 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.
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).
Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $9,966 | $55,453-82.0% | $170,435-94.2% | $62,293-84.0% |
| Participation rate | 43.8% | 66.4%-22.6pp | 83.6%-39.8pp | 69.5%-25.8pp |
| Annual return | 17.53% | 21.38%-3.8pp | 205.94%-188.4pp | 28.90%-11.4pp |
| Employer contribution / active EE | $351 | $2,164-83.8% | $5,432-93.5% | $2,042-82.8% |
| Participant deferral / active EE | $670 | $2,303-70.9% | $4,939-86.4% | $3,169-78.9% |
| Admin fee / account holder | $75 | $455-83.5% | $13,881-99.5% | $479-84.4% |