Filed August 24, 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 | $86,226 | $46,877+83.9% | $122,354-29.5% | $70,124+23.0% |
| Participation rate | 31.4% | 58.2%-26.8pp | 71.6%-40.2pp | 69.5%-38.1pp |
| Annual return | 17.72% | 24.22%-6.5pp | 30.28%-12.6pp | 73.14%-55.4pp |
| Employer contribution / active EE | $803 | $1,288-37.7% | $4,051-80.2% | $2,342-65.7% |
| Participant deferral / active EE | $1,661 | $2,167-23.4% | $3,287-49.5% | $3,332-50.1% |
| Admin fee / account holder | $589 | $3,324-82.3% | $5,479-89.3% | $4,645-87.3% |