Filed May 10, 2021
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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.
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).
Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $8,167 | $70,002-88.3% | $115,038-92.9% | $52,331-84.4% |
| Participation rate | 64.6% | 72.1%-7.5pp | 81.4%-16.8pp | 68.1%-3.5pp |
| Annual return | 1.83% | 4.04%-2.2pp | 26.14%-24.3pp | 4.54%-2.7pp |
| Employer contribution / active EE | $1,443 | $2,715-46.8% | $4,608-68.7% | $1,882-23.3% |
| Participant deferral / active EE | $1,603 | $4,920-67.4% | $6,026-73.4% | $3,022-47.0% |
| Admin fee / account holder | $9 | $566-98.4% | $8,175-99.9% | $592-98.5% |