Filed April 26, 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.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
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 | $6,514 | $34,492-81.1% | $80,004-91.9% | $55,191-88.2% |
| Participation rate | 38.0% | 62.9%-24.8pp | 73.0%-35.0pp | 69.2%-31.1pp |
| Annual return | 3.33% | 3.50%-0.2pp | 7.63%-4.3pp | 10.78%-7.5pp |
| Employer contribution / active EE | $349 | $1,043-66.5% | $2,473-85.9% | $1,899-81.6% |
| Participant deferral / active EE | $532 | $2,104-74.7% | $3,204-83.4% | $3,046-82.5% |
| Admin fee / account holder | $4 | $69-93.8% | $5,033-99.9% | $91-95.3% |