Filed July 17, 2020
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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).
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $6,408 | $91,198-93.0% | $178,503-96.4% | $79,856-92.0% |
| Participation rate | 48.8% | 69.2%-20.4pp | 81.9%-33.1pp | 69.6%-20.9pp |
| Annual return | 16.84% | 24.20%-7.4pp | 151.12%-134.3pp | 31.71%-14.9pp |
| Employer contribution / active EE | $690 | $3,257-78.8% | $5,011-86.2% | $2,471-72.1% |
| Participant deferral / active EE | $383 | $3,237-88.2% | $5,202-92.6% | $3,741-89.8% |
| Admin fee / account holder | $789 | $6,748-88.3% | $13,987-94.4% | $5,306-85.1% |