Filed December 11, 2022
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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 | $113,002 | $69,977+61.5% | $108,582+4.1% | $62,881+79.7% |
| Participation rate | 60.0% | 72.9%-12.9pp | 79.6%-19.6pp | 69.3%-9.3pp |
| Annual return | 7.96% | 10.73%-2.8pp | -51.70%+59.7pp | 20.14%-12.2pp |
| Employer contribution / active EE | $899 | $2,135-57.9% | $3,758-76.1% | $2,281-60.6% |
| Participant deferral / active EE | $2,853 | $3,165-9.8% | $4,311-33.8% | $3,203-10.9% |
| Admin fee / account holder | $4,824 | $5,076-5.0% | $7,645-36.9% | $4,296+12.3% |