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 | $21,720 | $50,637-57.1% | $86,582-74.9% | $62,293-65.1% |
| Participation rate | 63.6% | 67.9%-4.3pp | 73.5%-10.0pp | 69.5%-6.0pp |
| Annual return | 15.07% | 20.80%-5.7pp | 965.08%-950.0pp | 28.90%-13.8pp |
| Employer contribution / active EE | $656 | $2,075-68.4% | $2,839-76.9% | $2,042-67.9% |
| Participant deferral / active EE | $1,747 | $2,611-33.1% | $3,609-51.6% | $3,169-44.9% |
| Admin fee / account holder | $1,770 | $413+328.3% | $4,904-63.9% | $479+269.3% |