Filed April 12, 2023
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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.)
Annual investment return is in the bottom quintile of the peer cohort.
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 | $67,790 | $67,602+0.3% | $82,312-17.6% | $70,126-3.3% |
| Participation rate | 32.9% | 72.8%-39.8pp | 76.9%-44.0pp | 69.5%-36.6pp |
| Annual return | 9.27% | 21.57%-12.3pp | 25.88%-16.6pp | 73.15%-63.9pp |
| Employer contribution / active EE | $755 | $1,755-57.0% | $2,428-68.9% | $2,343-67.8% |
| Participant deferral / active EE | $1,656 | $2,987-44.5% | $3,706-55.3% | $3,332-50.3% |
| Admin fee / account holder | $1,337 | $4,512-70.4% | $5,608-76.2% | $4,645-71.2% |