Filed March 14, 2024
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Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $17,043 | $62,166-72.6% | $81,353-79.1% | $74,459-77.1% |
| Participation rate | 83.6% | 64.1%+19.6pp | 69.5%+14.1pp | 67.2%+16.4pp |
| Annual return | 14.55% | 16.50%-1.9pp | 24.82%-10.3pp | 1369.70%-1355.1pp |
| Employer contribution / active EE | $1,632 | $1,881-13.2% | $2,464-33.8% | $2,626-37.8% |
| Participant deferral / active EE | $2,901 | $3,223-10.0% | $3,885-25.3% | $4,350-33.3% |
| Admin fee / account holder | $1,135 | $1,925-41.0% | $5,766-80.3% | $1,945-41.6% |