Filed November 20, 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 | $74,136 | $106,524-30.4% | $152,301-51.3% | $87,485-15.3% |
| Participation rate | 45.3% | 75.8%-30.5pp | 82.4%-37.2pp | 68.9%-23.6pp |
| Annual return | 16.99% | 26.89%-9.9pp | 80.50%-63.5pp | 26.06%-9.1pp |
| Employer contribution / active EE | $1,647 | $3,371-51.1% | $4,624-64.4% | $2,596-36.6% |
| Participant deferral / active EE | $5,330 | $6,525-18.3% | $8,004-33.4% | $4,274+24.7% |
| Admin fee / account holder | $3,682 | $8,287-55.6% | $14,398-74.4% | $7,775-52.6% |