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 | $126,505-89.8% | $163,379-92.1% | $126,505-89.8% |
| Participation rate | 3.1% | 81.0%-77.9pp | 76.8%-73.7pp | 81.0%-77.9pp |
| Annual return | 36.50% | 14.86%+21.6pp | 63.41%-26.9pp | 14.86%+21.6pp |
| Employer contribution / active EE | $0 | $4,041-100.0% | $3,752-100.0% | $4,041-100.0% |
| Participant deferral / active EE | $87 | $6,313-98.6% | $6,282-98.6% | $6,313-98.6% |
| Admin fee / account holder | $2,080 | $145+1331.2% | $9,818-78.8% | $145+1331.2% |