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 | $24,544 | $68,880-64.4% | $120,580-79.6% | $80,959-69.7% |
| Participation rate | 41.4% | 61.7%-20.3pp | 72.0%-30.6pp | 67.7%-26.3pp |
| Annual return | 10.91% | 23.68%-12.8pp | 107.48%-96.6pp | 35.67%-24.8pp |
| Employer contribution / active EE | $1,059 | $2,066-48.7% | $3,469-69.5% | $2,757-61.6% |
| Participant deferral / active EE | $1,516 | $3,191-52.5% | $4,995-69.7% | $4,300-64.8% |
| Admin fee / account holder | $4,340 | $5,785-25.0% | $9,418-53.9% | $6,925-37.3% |