Filed February 14, 2023
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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 | $26,998 | $76,552-64.7% | $123,893-78.2% | $62,891-57.1% |
| Participation rate | 48.2% | 73.0%-24.7pp | 81.4%-33.2pp | 69.3%-21.1pp |
| Annual return | 13.92% | 18.68%-4.8pp | 47.52%-33.6pp | 20.14%-6.2pp |
| Employer contribution / active EE | $730 | $2,883-74.7% | $4,617-84.2% | $2,281-68.0% |
| Participant deferral / active EE | $5,411 | $4,840+11.8% | $5,984-9.6% | $3,203+68.9% |
| Admin fee / account holder | $3,282 | $4,826-32.0% | $8,357-60.7% | $4,296-23.6% |