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 | $106,524+17.2% | $152,301-18.0% | $87,485+42.7% |
| Participation rate | 44.0% | 75.8%-31.8pp | 82.4%-38.4pp | 68.9%-24.9pp |
| Annual return | 16.87% | 26.89%-10.0pp | 80.50%-63.6pp | 26.06%-9.2pp |
| Employer contribution / active EE | $2,323 | $3,371-31.1% | $4,624-49.8% | $2,596-10.5% |
| Participant deferral / active EE | $3,752 | $6,525-42.5% | $8,004-53.1% | $4,274-12.2% |
| Admin fee / account holder | $5,765 | $8,287-30.4% | $14,398-60.0% | $7,775-25.9% |