Filed December 11, 2018
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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.)
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).
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $12,931 | $94,566-86.3% | $203,872-93.7% | $94,566-86.3% |
| Participation rate | 3.1% | 85.7%-82.5pp | 77.8%-74.7pp | 85.7%-82.5pp |
| Annual return | 36.50% | 12.00%+24.5pp | 85.11%-48.6pp | 12.00%+24.5pp |
| Employer contribution / active EE | $0 | $4,385-100.0% | $3,757-100.0% | $4,385-100.0% |
| Participant deferral / active EE | $87 | $4,140-97.9% | $6,388-98.6% | $4,140-97.9% |
| Admin fee / account holder | $2,080 | $202+931.8% | $11,730-82.3% | $202+931.8% |