Filed September 23, 2022
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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 | $21,236 | $49,280-56.9% | $67,313-68.5% | $64,181-66.9% |
| Participation rate | 51.5% | 60.8%-9.3pp | 69.1%-17.6pp | 69.6%-18.1pp |
| Annual return | -9.96% | -1.39%-8.6pp | -4.08%-5.9pp | 7.63%-17.6pp |
| Employer contribution / active EE | $1,063 | $1,668-36.3% | $2,566-58.6% | $2,381-55.4% |
| Participant deferral / active EE | $2,203 | $2,484-11.3% | $3,568-38.3% | $3,470-36.5% |
| Admin fee / account holder | $3,853 | $3,863-0.2% | $4,507-14.5% | $4,887-21.2% |