Filed January 17, 2023
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Participant 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.)
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 | $50,847 | $106,524-52.3% | $152,301-66.6% | $87,485-41.9% |
| Participation rate | 43.4% | 75.8%-32.4pp | 82.4%-39.1pp | 68.9%-25.5pp |
| Annual return | 20.80% | 26.89%-6.1pp | 80.50%-59.7pp | 26.06%-5.3pp |
| Employer contribution / active EE | $1,474 | $3,371-56.3% | $4,624-68.1% | $2,596-43.2% |
| Participant deferral / active EE | $2,430 | $6,525-62.8% | $8,004-69.6% | $4,274-43.1% |
| Admin fee / account holder | $423 | $8,287-94.9% | $14,398-97.1% | $7,775-94.6% |