Filed April 25, 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 | $62,568 | $72,269-13.4% | $101,271-38.2% | $79,852-21.6% |
| Participation rate | 65.5% | 68.5%-2.9pp | 75.8%-10.3pp | 69.6%-4.1pp |
| Annual return | 14.28% | 22.29%-8.0pp | 46.48%-32.2pp | 31.72%-17.4pp |
| Employer contribution / active EE | $1,523 | $2,692-43.4% | $3,660-58.4% | $2,471-38.4% |
| Participant deferral / active EE | $2,708 | $3,282-17.5% | $4,371-38.0% | $3,740-27.6% |
| Admin fee / account holder | $2,213 | $4,401-49.7% | $5,948-62.8% | $5,306-58.3% |