Filed August 7, 2023
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Participant contribution per participant is in the bottom quintile of the peer cohort.
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 | $42,062 | $69,444-39.4% | $92,985-54.8% | $87,485-51.9% |
| Participation rate | 29.0% | 63.3%-34.3pp | 69.5%-40.5pp | 68.9%-39.9pp |
| Annual return | 15.06% | 23.85%-8.8pp | 27.99%-12.9pp | 26.06%-11.0pp |
| Employer contribution / active EE | $1,845 | $1,917-3.8% | $2,662-30.7% | $2,596-29.0% |
| Participant deferral / active EE | $815 | $3,364-75.8% | $4,377-81.4% | $4,274-80.9% |
| Admin fee / account holder | $5,566 | $6,137-9.3% | $9,463-41.2% | $7,775-28.4% |