Filed June 10, 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 | $22,862 | $63,114-63.8% | $92,909-75.4% | $65,185-64.9% |
| Participation rate | 37.0% | 68.8%-31.8pp | 76.0%-39.0pp | 70.2%-33.2pp |
| Annual return | 25.81% | 28.75%-2.9pp | 109.44%-83.6pp | 29.38%-3.6pp |
| Employer contribution / active EE | $862 | $2,571-66.5% | $3,653-76.4% | $2,177-60.4% |
| Participant deferral / active EE | $1,315 | $3,108-57.7% | $4,238-69.0% | $3,514-62.6% |
| Admin fee / account holder | $592 | $624-5.1% | $5,795-89.8% | $847-30.1% |