Filed April 8, 2024
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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 | $58,090 | $93,617-37.9% | $135,982-57.3% | $75,177-22.7% |
| Participation rate | 55.4% | 75.2%-19.8pp | 81.9%-26.5pp | 67.2%-11.8pp |
| Annual return | 20.46% | 30.89%-10.4pp | 68.32%-47.9pp | 160.75%-140.3pp |
| Employer contribution / active EE | $1,333 | $3,538-62.3% | $4,859-72.6% | $2,671-50.1% |
| Participant deferral / active EE | $3,096 | $6,406-51.7% | $7,760-60.1% | $4,126-25.0% |
| Admin fee / account holder | $1,512 | $6,980-78.3% | $10,767-86.0% | $5,651-73.2% |