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 | $32,906 | $93,617-64.9% | $135,982-75.8% | $75,177-56.2% |
| Participation rate | 64.8% | 75.2%-10.4pp | 81.9%-17.1pp | 67.2%-2.4pp |
| Annual return | 20.54% | 30.89%-10.3pp | 68.32%-47.8pp | 160.75%-140.2pp |
| Employer contribution / active EE | $1,573 | $3,538-55.6% | $4,859-67.6% | $2,671-41.1% |
| Participant deferral / active EE | $3,007 | $6,406-53.1% | $7,760-61.3% | $4,126-27.1% |
| Admin fee / account holder | $5,684 | $6,980-18.6% | $10,767-47.2% | $5,651+0.6% |