Filed March 26, 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 | $72,849 | $41,377+76.1% | $109,313-33.4% | $62,881+15.9% |
| Participation rate | 55.1% | 57.5%-2.5pp | 71.3%-16.2pp | 69.3%-14.2pp |
| Annual return | 6.38% | 11.05%-4.7pp | 22.07%-15.7pp | 20.14%-13.8pp |
| Employer contribution / active EE | $905 | $1,276-29.1% | $3,892-76.7% | $2,281-60.3% |
| Participant deferral / active EE | $2,384 | $2,045+16.6% | $3,166-24.7% | $3,203-25.6% |
| Admin fee / account holder | $4,526 | $2,884+56.9% | $5,666-20.1% | $4,296+5.4% |