Filed November 14, 2024
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer contribution per participant is in the bottom quintile of the peer cohort.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
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 | $17,648 | $81,504-78.3% | $102,437-82.8% | $80,959-78.2% |
| Participation rate | 66.7% | 66.9%-0.2pp | 74.5%-7.8pp | 67.7%-1.0pp |
| Annual return | 16.45% | 25.60%-9.1pp | 24.95%-8.5pp | 35.67%-19.2pp |
| Employer contribution / active EE | $0 | $3,104-100.0% | $3,871-100.0% | $2,757-100.0% |
| Participant deferral / active EE | $5,694 | $3,871+47.1% | $5,060+12.5% | $4,300+32.4% |
| Admin fee / account holder | $514 | $6,719-92.3% | $8,388-93.9% | $6,925-92.6% |