Filed August 6, 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 | $31,979 | $65,364-51.1% | $92,909-65.6% | $72,975-56.2% |
| Participation rate | 65.4% | 68.3%-2.9pp | 76.0%-10.6pp | 69.5%-4.1pp |
| Annual return | 28.86% | 42.11%-13.2pp | 109.44%-80.6pp | 81.01%-52.2pp |
| Employer contribution / active EE | $2,129 | $2,594-18.0% | $3,653-41.7% | $2,440-12.8% |
| Participant deferral / active EE | $4,939 | $3,128+57.9% | $4,238+16.5% | $3,608+36.9% |
| Admin fee / account holder | $867 | $4,251-79.6% | $5,795-85.0% | $5,124-83.1% |