Filed July 1, 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 | $96,295 | $56,894+69.3% | $84,753+13.6% | $62,881+53.1% |
| Participation rate | 53.6% | 68.5%-15.0pp | 76.6%-23.0pp | 69.3%-15.7pp |
| Annual return | 4.95% | 6.30%-1.4pp | 22.78%-17.8pp | 20.14%-15.2pp |
| Employer contribution / active EE | $2,867 | $2,400+19.5% | $3,574-19.8% | $2,281+25.7% |
| Participant deferral / active EE | $5,691 | $2,709+110.1% | $3,712+53.3% | $3,203+77.7% |
| Admin fee / account holder | $1,313 | $3,581-63.3% | $5,333-75.4% | $4,296-69.4% |