Filed April 27, 2017
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Plan reported corrective distributions (failed ADP/ACP testing).
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 | $56,681 | $42,546+33.2% | $71,796-21.1% | $55,167+2.7% |
| Participation rate | 58.3% | 59.1%-0.9pp | 69.1%-10.9pp | 69.0%-10.7pp |
| Annual return | 5.54% | 12.36%-6.8pp | 78.04%-72.5pp | 169.23%-163.7pp |
| Employer contribution / active EE | $0 | $803-100.0% | $1,924-100.0% | $1,963-100.0% |
| Participant deferral / active EE | $3,010 | $2,064+45.8% | $2,794+7.7% | $3,054-1.4% |
| Admin fee / account holder | $36 | $650-94.4% | $4,815-99.2% | $504-92.8% |