Filed July 22, 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 | $49,100 | $105,210-53.3% | $159,487-69.2% | $85,851-42.8% |
| Participation rate | 50.7% | 75.8%-25.0pp | 82.8%-32.1pp | 69.3%-18.6pp |
| Annual return | 14.11% | 45.08%-31.0pp | 263.71%-249.6pp | 318.63%-304.5pp |
| Employer contribution / active EE | $965 | $3,319-70.9% | $4,831-80.0% | $2,565-62.4% |
| Participant deferral / active EE | $2,823 | $5,946-52.5% | $7,354-61.6% | $3,952-28.6% |
| Admin fee / account holder | $3,306 | $6,934-52.3% | $10,804-69.4% | $6,261-47.2% |