Filed August 15, 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 | $124,830 | $106,749+16.9% | $145,433-14.2% | $82,448+51.4% |
| Participation rate | 44.0% | 75.6%-31.6pp | 82.1%-38.1pp | 68.1%-24.1pp |
| Annual return | 16.87% | 27.59%-10.7pp | 66.58%-49.7pp | 41.64%-24.8pp |
| Employer contribution / active EE | $2,323 | $3,444-32.6% | $4,554-49.0% | $2,551-8.9% |
| Participant deferral / active EE | $3,752 | $6,519-42.4% | $7,897-52.5% | $4,139-9.4% |
| Admin fee / account holder | $5,765 | $8,390-31.3% | $13,129-56.1% | $7,234-20.3% |