Filed July 29, 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 | $61,170 | $64,324-4.9% | $118,946-48.6% | $79,852-23.4% |
| Participation rate | 43.1% | 64.9%-21.8pp | 75.4%-32.3pp | 69.6%-26.6pp |
| Annual return | 10.46% | 86.45%-76.0pp | 35.89%-25.4pp | 31.72%-21.3pp |
| Employer contribution / active EE | $1,208 | $1,836-34.2% | $3,263-63.0% | $2,471-51.1% |
| Participant deferral / active EE | $2,849 | $2,824+0.9% | $4,266-33.2% | $3,740-23.8% |
| Admin fee / account holder | $4,000 | $4,040-1.0% | $6,581-39.2% | $5,306-24.6% |