Filed August 5, 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 | $44,243 | $79,633-44.4% | $93,759-52.8% | $68,495-35.4% |
| Participation rate | 45.9% | 75.4%-29.5pp | 81.0%-35.1pp | 67.9%-22.0pp |
| Annual return | -16.80% | -0.10%-16.7pp | -11.33%-5.5pp | -7.84%-9.0pp |
| Employer contribution / active EE | $1,053 | $3,665-71.3% | $4,324-75.6% | $2,596-59.4% |
| Participant deferral / active EE | $1,684 | $5,158-67.4% | $6,096-72.4% | $4,028-58.2% |
| Admin fee / account holder | $2,836 | $6,871-58.7% | $7,197-60.6% | $5,403-47.5% |