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 | $75,720+54.7% | $90,312+29.7% | $86,983+34.6% |
| Participation rate | 65.6% | 66.3%-0.7pp | 72.9%-7.3pp | 69.5%-4.0pp |
| Annual return | 14.83% | 18.55%-3.7pp | 18.90%-4.1pp | 25.83%-11.0pp |
| Employer contribution / active EE | $2,941 | $1,945+51.2% | $2,243+31.2% | $2,584+13.8% |
| Participant deferral / active EE | $6,097 | $3,001+103.2% | $3,749+62.6% | $4,194+45.4% |
| Admin fee / account holder | $3,029 | $6,201-51.1% | $8,248-63.3% | $7,856-61.4% |