Filed February 13, 2017
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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.)
Annual investment return 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).
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $9,082 | $63,845-85.8% | $81,370-88.8% | $80,959-88.8% |
| Participation rate | 29.2% | 63.9%-34.6pp | 69.5%-40.3pp | 67.7%-38.4pp |
| Annual return | 9.95% | 16.37%-6.4pp | 24.85%-14.9pp | 35.67%-25.7pp |
| Employer contribution / active EE | $0 | $1,980-100.0% | $2,464-100.0% | $2,757-100.0% |
| Participant deferral / active EE | $726 | $3,093-76.5% | $3,885-81.3% | $4,300-83.1% |
| Admin fee / account holder | $890 | $5,688-84.3% | $5,749-84.5% | $6,925-87.1% |