Filed November 22, 2022
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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 | $16,874 | $56,054-69.9% | $171,082-90.1% | $62,881-73.2% |
| Participation rate | 41.9% | 62.9%-21.0pp | 76.7%-34.8pp | 69.3%-27.4pp |
| Annual return | 8.59% | 22.52%-13.9pp | 32.56%-24.0pp | 20.14%-11.6pp |
| Employer contribution / active EE | $321 | $1,731-81.5% | $4,002-92.0% | $2,281-85.9% |
| Participant deferral / active EE | $2,137 | $3,158-32.3% | $4,797-55.5% | $3,203-33.3% |
| Admin fee / account holder | $819 | $3,647-77.5% | $8,520-90.4% | $4,296-80.9% |