Filed September 16, 2020
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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 | $27,880 | $85,766-67.5% | $136,298-79.5% | $70,126-60.2% |
| Participation rate | 26.2% | 74.2%-48.0pp | 81.9%-55.7pp | 69.5%-43.3pp |
| Annual return | 20.73% | 31.46%-10.7pp | 5156.27%-5135.5pp | 73.15%-52.4pp |
| Employer contribution / active EE | $643 | $2,966-78.3% | $4,696-86.3% | $2,343-72.5% |
| Participant deferral / active EE | $1,112 | $5,051-78.0% | $6,247-82.2% | $3,332-66.6% |
| Admin fee / account holder | $4,572 | $5,421-15.7% | $9,244-50.5% | $4,645-1.6% |