Filed January 17, 2023
Total covered: 2 employees
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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 | $63,033 | $53,774+17.2% | $134,162-53.0% | $79,856-21.1% |
| Participation rate | 42.6% | 58.8%-16.1pp | 72.2%-29.6pp | 69.6%-27.0pp |
| Annual return | 15.33% | 19.01%-3.7pp | 36.35%-21.0pp | 31.71%-16.4pp |
| Employer contribution / active EE | $1,289 | $1,322-2.4% | $3,705-65.2% | $2,471-47.8% |
| Participant deferral / active EE | $2,397 | $2,420-0.9% | $3,500-31.5% | $3,741-35.9% |
| Admin fee / account holder | $5,960 | $3,985+49.6% | $6,685-10.8% | $5,306+12.3% |