Filed August 23, 2023
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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 | $52,147 | $73,787-29.3% | $98,716-47.2% | $82,448-36.8% |
| Participation rate | 47.9% | 61.4%-13.5pp | 69.3%-21.3pp | 68.1%-20.1pp |
| Annual return | 15.33% | 18.57%-3.2pp | 31.81%-16.5pp | 41.64%-26.3pp |
| Employer contribution / active EE | $1,309 | $1,511-13.4% | $2,279-42.5% | $2,551-48.7% |
| Participant deferral / active EE | $2,450 | $3,081-20.5% | $4,048-39.5% | $4,139-40.8% |
| Admin fee / account holder | $4,660 | $6,500-28.3% | $8,703-46.5% | $7,234-35.6% |