Filed August 4, 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).
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $18,633 | $81,504-77.1% | $102,437-81.8% | $80,959-77.0% |
| Participation rate | 99.0% | 66.9%+32.1pp | 74.5%+24.5pp | 67.7%+31.3pp |
| Annual return | 13.64% | 25.60%-12.0pp | 24.95%-11.3pp | 35.67%-22.0pp |
| Employer contribution / active EE | $1,589 | $3,104-48.8% | $3,871-59.0% | $2,757-42.4% |
| Participant deferral / active EE | $2,223 | $3,871-42.6% | $5,060-56.1% | $4,300-48.3% |
| Admin fee / account holder | $2,216 | $6,719-67.0% | $8,388-73.6% | $6,925-68.0% |