Filed February 5, 2021
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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 | $41,301 | $84,936-51.4% | $111,308-62.9% | $79,391-48.0% |
| Participation rate | 56.3% | 75.9%-19.5pp | 77.3%-21.0pp | 70.7%-14.4pp |
| Annual return | 15.41% | 17.45%-2.0pp | 54.67%-39.3pp | 116.88%-101.5pp |
| Employer contribution / active EE | $1,205 | $1,979-39.1% | $2,732-55.9% | $2,428-50.3% |
| Participant deferral / active EE | $1,947 | $3,888-49.9% | $4,487-56.6% | $4,046-51.9% |
| Admin fee / account holder | $792 | $537+47.5% | $7,965-90.1% | $627+26.4% |