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.)
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 | $98,302 | $71,873+36.8% | $86,698+13.4% | $68,490+43.5% |
| Participation rate | 30.2% | 72.2%-42.0pp | 76.6%-46.4pp | 67.9%-37.7pp |
| Annual return | -13.64% | 3.54%-17.2pp | 35.96%-49.6pp | -7.85%-5.8pp |
| Employer contribution / active EE | $986 | $2,173-54.6% | $2,837-65.2% | $2,597-62.0% |
| Participant deferral / active EE | $1,781 | $3,779-52.9% | $4,656-61.7% | $4,028-55.8% |
| Admin fee / account holder | $2,356 | $6,110-61.4% | $7,492-68.6% | $5,403-56.4% |