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1 issue

Board of Trustees of the Southern District Ubc Defined Contribution F

71-0851216· Goodlettsville, TN· Empower· 2024 filing· vs 3 plans your size
F
0/100
Overall grade

Falling behind on most measures.

D
Fees
F
Financial Wellness
F
Plan design
B
Compliance
Fees

Your plan pays around 16 bps of assets per year. Similar plans pay around 8 bps. Your plan is pricier than most similar plans.

D
cheaper75th percentilepricier
Financial Wellness

Below-average savings. Employees put away $7/employee a year. That's less than 99% of similar plans.

F
lower1th percentilehigher
Plan design

No employer match or contribution, the feature that matters most for savings.

F
No employer match
No match is reported. A match is the top reason employees enroll and contribute. 92% of similar plans offer one.
No automatic enrollment
Employees have to opt in themselves. Auto-enrollment is the easiest way to lift participation, and most newly started plans are now required to include it.
Safe harbor not reported
The filing does not establish whether this plan uses a safe harbor design, so it does not affect the grade.
No brokerage window
Employees can only invest through the plan's core fund menu. A brokerage window opens the wider market for people who want more control.
Compliance & health

1 item to review, nothing critical.

B
Fidelity bond below 10% of BOY assets, ERISA 412 violation
The reported ERISA fidelity bond is below the 10%-of-assets guideline based on beginning-of-year assets. Fast-growing plans can look under-bonded on paper; confirm against the plan's current bond coverage.
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Empower

No provider notes available.

Key insights

  • Strongest area: compliance & health. 1 item to review, nothing critical.
  • Best place to improve: plan design. No employer match or contribution, the feature that matters most for savings.
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