Filed October 29, 2024
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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 | $46,056 | $81,487-43.5% | $102,412-55.0% | $80,935-43.1% |
| Participation rate | 40.7% | 66.8%-26.1pp | 74.5%-33.8pp | 67.7%-26.9pp |
| Annual return | 15.95% | 25.60%-9.6pp | 24.94%-9.0pp | 35.66%-19.7pp |
| Employer contribution / active EE | $1,171 | $3,103-62.3% | $3,870-69.7% | $2,757-57.5% |
| Participant deferral / active EE | $3,538 | $3,871-8.6% | $5,060-30.1% | $4,299-17.7% |
| Admin fee / account holder | $7,022 | $6,717+4.5% | $8,388-16.3% | $6,924+1.4% |