Filed June 1, 2022
Total covered: 6 employees
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Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
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 | $19,135 | $76,551-75.0% | $123,894-84.6% | $62,881-69.6% |
| Participation rate | 81.1% | 73.0%+8.2pp | 81.4%-0.3pp | 69.3%+11.8pp |
| Annual return | 8.33% | 18.68%-10.4pp | 47.52%-39.2pp | 20.14%-11.8pp |
| Employer contribution / active EE | $1,185 | $2,882-58.9% | $4,617-74.3% | $2,281-48.0% |
| Participant deferral / active EE | $2,644 | $4,840-45.4% | $5,984-55.8% | $3,203-17.5% |
| Admin fee / account holder | $1,293 | $4,826-73.2% | $8,357-84.5% | $4,296-69.9% |