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 | $71,946 | $43,344+66.0% | $59,899+20.1% | $64,173+12.1% |
| Participation rate | 42.2% | 69.2%-27.0pp | 74.7%-32.5pp | 69.6%-27.4pp |
| Annual return | -4.06% | -1.55%-2.5pp | 3.46%-7.5pp | 7.63%-11.7pp |
| Employer contribution / active EE | $0 | $2,030-100.0% | $2,723-100.0% | $2,381-100.0% |
| Participant deferral / active EE | $1,739 | $2,547-31.8% | $3,402-48.9% | $3,470-49.9% |
| Admin fee / account holder | $529 | $3,008-82.4% | $3,592-85.3% | $4,887-89.2% |