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 | $57,913 | $62,589-7.5% | $76,768-24.6% | $64,173-9.8% |
| Participation rate | 12.5% | 72.8%-60.3pp | 77.0%-64.5pp | 69.6%-57.1pp |
| Annual return | -4.02% | -1.95%-2.1pp | 2.43%-6.5pp | 7.63%-11.7pp |
| Employer contribution / active EE | $0 | $1,832-100.0% | $2,485-100.0% | $2,381-100.0% |
| Participant deferral / active EE | $583 | $3,145-81.5% | $3,852-84.9% | $3,470-83.2% |
| Admin fee / account holder | $9,087 | $4,667+94.7% | $6,675+36.1% | $4,887+85.9% |