Filed November 4, 2016
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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).
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $42,468 | $58,408-27.3% | $180,320-76.4% | $69,733-39.1% |
| Participation rate | 42.3% | 54.2%-11.9pp | 71.5%-29.2pp | 62.5%-20.1pp |
| Annual return | 13.18% | 15.02%-1.8pp | 778.54%-765.4pp | 15.22%-2.0pp |
| Employer contribution / active EE | $887 | $1,159-23.5% | $4,108-78.4% | $2,250-60.6% |
| Participant deferral / active EE | $2,427 | $2,723-10.9% | $4,304-43.6% | $3,054-20.5% |
| Admin fee / account holder | $5,905 | $4,205+40.4% | $10,000-41.0% | $3,102+90.4% |