Filed June 10, 2022
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Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
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 | $22,841 | $110,137-79.3% | $161,149-85.8% | $82,637-72.4% |
| Participation rate | 97.1% | 72.4%+24.8pp | 78.8%+18.3pp | 68.1%+29.1pp |
| Annual return | 18.70% | 20.69%-2.0pp | 21.16%-2.5pp | 53.51%-34.8pp |
| Employer contribution / active EE | $2,273 | $2,856-20.4% | $4,360-47.9% | $2,552-10.9% |
| Participant deferral / active EE | $5,649 | $4,575+23.5% | $6,153-8.2% | $4,126+36.9% |
| Admin fee / account holder | $3,057 | $9,467-67.7% | $15,194-79.9% | $7,339-58.3% |