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 | $31,849 | $72,027-55.8% | $185,861-82.9% | $79,856-60.1% |
| Participation rate | 64.1% | 65.8%-1.7pp | 78.0%-14.0pp | 69.6%-5.6pp |
| Annual return | 23.02% | 23.13%-0.1pp | 35.96%-12.9pp | 31.71%-8.7pp |
| Employer contribution / active EE | $646 | $1,965-67.1% | $4,088-84.2% | $2,471-73.9% |
| Participant deferral / active EE | $3,148 | $3,780-16.7% | $5,634-44.1% | $3,741-15.8% |
| Admin fee / account holder | $1,449 | $4,513-67.9% | $9,503-84.8% | $5,306-72.7% |