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 | $77,574-32.8% | $108,753-52.1% | $86,983-40.0% |
| Participation rate | 47.9% | 62.3%-14.4pp | 71.1%-23.1pp | 69.5%-21.6pp |
| Annual return | 15.33% | 18.42%-3.1pp | 37.47%-22.1pp | 25.83%-10.5pp |
| Employer contribution / active EE | $1,309 | $1,611-18.7% | $2,427-46.0% | $2,584-49.3% |
| Participant deferral / active EE | $2,450 | $3,128-21.7% | $4,115-40.4% | $4,194-41.6% |
| Admin fee / account holder | $4,660 | $6,529-28.6% | $10,320-54.8% | $7,856-40.7% |