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 | $76,834-32.1% | $108,359-51.9% | $87,485-40.4% |
| Participation rate | 47.9% | 61.7%-13.8pp | 70.1%-22.2pp | 68.9%-21.0pp |
| Annual return | 15.33% | 19.09%-3.8pp | 36.89%-21.6pp | 26.06%-10.7pp |
| Employer contribution / active EE | $1,309 | $1,556-15.9% | $2,399-45.4% | $2,596-49.6% |
| Participant deferral / active EE | $2,450 | $3,100-21.0% | $4,137-40.8% | $4,274-42.7% |
| Admin fee / account holder | $4,660 | $6,537-28.7% | $9,741-52.2% | $7,775-40.1% |