Filed August 31, 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 | $56,407 | $99,345-43.2% | $84,753-33.4% | $273,972-79.4% |
| Participation rate | 60.0% | 80.7%-20.7pp | 76.6%-16.6pp | 83.0%-23.0pp |
| Annual return | 6.67% | 22.93%-16.3pp | 22.78%-16.1pp | 41.46%-34.8pp |
| Employer contribution / active EE | $733 | $4,214-82.6% | $3,574-79.5% | $4,869-84.9% |
| Participant deferral / active EE | $2,649 | $4,270-38.0% | $3,712-28.6% | $5,287-49.9% |
| Admin fee / account holder | $698 | $6,645-89.5% | $5,333-86.9% | $10,133-93.1% |