Filed March 14, 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 | $59,906 | $67,602-11.4% | $82,312-27.2% | $70,126-14.6% |
| Participation rate | 13.3% | 72.8%-59.4pp | 76.9%-63.6pp | 69.5%-56.2pp |
| Annual return | 16.72% | 21.57%-4.8pp | 25.88%-9.2pp | 73.15%-56.4pp |
| Employer contribution / active EE | $0 | $1,755-100.0% | $2,428-100.0% | $2,343-100.0% |
| Participant deferral / active EE | $598 | $2,987-80.0% | $3,706-83.9% | $3,332-82.1% |
| Admin fee / account holder | $37,916 | $4,512+740.4% | $5,608+576.1% | $4,645+716.2% |