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 | $7,607 | $59,123-87.1% | $77,183-90.1% | $75,181-89.9% |
| Participation rate | 30.2% | 63.9%-33.7pp | 69.6%-39.4pp | 67.2%-37.0pp |
| Annual return | 12.89% | 26.72%-13.8pp | 37.89%-25.0pp | 160.69%-147.8pp |
| Employer contribution / active EE | $0 | $1,996-100.0% | $2,534-100.0% | $2,671-100.0% |
| Participant deferral / active EE | $501 | $2,999-83.3% | $3,833-86.9% | $4,126-87.9% |
| Admin fee / account holder | $1,962 | $4,776-58.9% | $5,475-64.2% | $5,650-65.3% |