Filed June 10, 2024 (most recent of 3 filings on file)
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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 | $74,282 | $45,050+64.9% | $63,018+17.9% | $70,126+5.9% |
| Participation rate | 44.1% | 69.5%-25.4pp | 74.8%-30.7pp | 69.5%-25.4pp |
| Annual return | 13.69% | 18.76%-5.1pp | 87.62%-73.9pp | 73.15%-59.5pp |
| Employer contribution / active EE | $0 | $2,052-100.0% | $2,761-100.0% | $2,343-100.0% |
| Participant deferral / active EE | $1,734 | $2,466-29.7% | $3,330-47.9% | $3,332-47.9% |
| Admin fee / account holder | $698 | $2,834-75.4% | $3,601-80.6% | $4,645-85.0% |