Filed December 15, 2022
Total covered: 8 employees
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Participant contribution per participant is in the bottom quintile of the peer cohort.
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 | $34,431 | $76,407-54.9% | $150,298-77.1% | $82,448-58.2% |
| Participation rate | 4.3% | 66.4%-62.1pp | 77.8%-73.5pp | 68.1%-63.8pp |
| Annual return | 16.07% | 39.99%-23.9pp | 62.79%-46.7pp | 41.64%-25.6pp |
| Employer contribution / active EE | $0 | $2,614-100.0% | $4,154-100.0% | $2,551-100.0% |
| Participant deferral / active EE | $2 | $3,214-99.9% | $5,453-100.0% | $4,139-99.9% |
| Admin fee / account holder | $4,623 | $6,352-27.2% | $14,116-67.2% | $7,234-36.1% |