Filed September 12, 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 | $150,019 | $106,524+40.8% | $152,301-1.5% | $87,485+71.5% |
| Participation rate | 34.0% | 75.8%-41.7pp | 82.4%-48.4pp | 68.9%-34.9pp |
| Annual return | 17.04% | 26.89%-9.8pp | 80.50%-63.5pp | 26.06%-9.0pp |
| Employer contribution / active EE | $1,996 | $3,371-40.8% | $4,624-56.8% | $2,596-23.1% |
| Participant deferral / active EE | $5,065 | $6,525-22.4% | $8,004-36.7% | $4,274+18.5% |
| Admin fee / account holder | $945 | $8,287-88.6% | $14,398-93.4% | $7,775-87.9% |