Filed July 23, 2024
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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 | $50,657 | $47,105+7.5% | $68,368-25.9% | $67,986-25.5% |
| Participation rate | 38.8% | 51.8%-13.0pp | 73.8%-34.9pp | 57.2%-18.4pp |
| Annual return | 16.69% | 48.37%-31.7pp | 292.57%-275.9pp | 31.67%-15.0pp |
| Employer contribution / active EE | $696 | $1,859-62.6% | $2,649-73.7% | $2,019-65.5% |
| Participant deferral / active EE | $1,993 | $2,374-16.1% | $4,123-51.7% | $3,358-40.7% |
| Admin fee / account holder | $4,581 | $2,435+88.1% | $5,150-11.0% | $3,203+43.0% |