Filed April 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 | $117,114 | $69,273+69.1% | $90,796+29.0% | $82,637+41.7% |
| Participation rate | 65.6% | 64.0%+1.5pp | 69.5%-3.9pp | 68.1%-2.5pp |
| Annual return | 14.83% | 18.37%-3.5pp | 19.29%-4.5pp | 53.51%-38.7pp |
| Employer contribution / active EE | $2,941 | $1,865+57.7% | $2,294+28.2% | $2,552+15.3% |
| Participant deferral / active EE | $6,097 | $3,047+100.1% | $3,822+59.5% | $4,126+47.8% |
| Admin fee / account holder | $3,029 | $5,511-45.0% | $7,024-56.9% | $7,339-58.7% |