Filed July 3, 2024
Total covered: 8 employees
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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 | $26,512 | $65,712-59.7% | $57,196-53.6% | $273,972-90.3% |
| Participation rate | 60.0% | 78.3%-18.3pp | 75.3%-15.3pp | 83.0%-23.0pp |
| Annual return | 7.31% | 22.01%-14.7pp | 14.59%-7.3pp | 41.46%-34.1pp |
| Employer contribution / active EE | $5,211 | $3,280+58.9% | $2,683+94.2% | $4,869+7.0% |
| Participant deferral / active EE | $3,639 | $3,782-3.8% | $3,096+17.5% | $5,287-31.2% |
| Admin fee / account holder | $1,746 | $4,838-63.9% | $3,141-44.4% | $10,133-82.8% |