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 | $81,403-57.5% | $147,027-76.5% | $87,485-60.5% |
| Participation rate | 35.5% | 63.4%-28.0pp | 73.7%-38.3pp | 68.9%-33.4pp |
| Annual return | 17.72% | 16.51%+1.2pp | 20.23%-2.5pp | 26.06%-8.3pp |
| Employer contribution / active EE | $1,093 | $2,205-50.5% | $3,626-69.9% | $2,596-57.9% |
| Participant deferral / active EE | $1,582 | $3,315-52.3% | $4,933-67.9% | $4,274-63.0% |
| Admin fee / account holder | $753 | $6,755-88.9% | $12,223-93.8% | $7,775-90.3% |