Filed September 9, 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 | $107,711 | $64,311+67.5% | $57,356+87.8% | $125,389-14.1% |
| Participation rate | 42.9% | 78.6%-35.8pp | 75.1%-32.2pp | 83.2%-40.3pp |
| Annual return | 1.23% | 25.14%-23.9pp | 24.41%-23.2pp | 282.24%-281.0pp |
| Employer contribution / active EE | $0 | $3,193-100.0% | $2,689-100.0% | $4,866-100.0% |
| Participant deferral / active EE | $3,651 | $3,846-5.1% | $3,162+15.5% | $5,352-31.8% |
| Admin fee / account holder | $6,256 | $5,243+19.3% | $3,357+86.4% | $9,541-34.4% |