Filed August 18, 2022
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer contribution per participant is in the bottom quintile of the peer cohort.
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 | $74,763 | $77,814-3.9% | $158,223-52.7% | $86,983-14.0% |
| Participation rate | 37.5% | 68.4%-30.9pp | 79.2%-41.7pp | 69.5%-32.0pp |
| Annual return | 14.96% | 30.54%-15.6pp | 52.09%-37.1pp | 25.83%-10.9pp |
| Employer contribution / active EE | $0 | $2,592-100.0% | $4,109-100.0% | $2,584-100.0% |
| Participant deferral / active EE | $3,500 | $3,270+7.0% | $5,467-36.0% | $4,194-16.5% |
| Admin fee / account holder | $7,710 | $5,879+31.1% | $16,047-52.0% | $7,856-1.9% |