Filed September 21, 2020
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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 | $34,578 | $77,896-55.6% | $134,172-74.2% | $82,448-58.1% |
| Participation rate | 35.5% | 62.8%-27.3pp | 72.5%-37.0pp | 68.1%-32.6pp |
| Annual return | 17.72% | 18.21%-0.5pp | 25.30%-7.6pp | 41.64%-23.9pp |
| Employer contribution / active EE | $1,093 | $2,159-49.4% | $3,420-68.1% | $2,551-57.2% |
| Participant deferral / active EE | $1,582 | $3,162-50.0% | $4,690-66.3% | $4,139-61.8% |
| Admin fee / account holder | $753 | $6,336-88.1% | $12,016-93.7% | $7,234-89.6% |