Filed October 10, 2023
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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 | $21,408 | $157,304-86.4% | $141,197-84.8% | $152,909-86.0% |
| Participation rate | 78.3% | 84.8%-6.6pp | 82.5%-4.2pp | 82.5%-4.2pp |
| Annual return | 21.84% | 64.34%-42.5pp | 71.41%-49.6pp | 345.46%-323.6pp |
| Employer contribution / active EE | $3,033 | $5,263-42.4% | $4,736-36.0% | $4,764-36.3% |
| Participant deferral / active EE | $2,609 | $7,111-63.3% | $6,710-61.1% | $5,851-55.4% |
| Admin fee / account holder | $561 | $12,126-95.4% | $10,265-94.5% | $11,601-95.2% |