Filed August 24, 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.)
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
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 | $12,146 | $56,894-78.7% | $84,753-85.7% | $62,881-80.7% |
| Participation rate | 64.0% | 68.5%-4.5pp | 76.6%-12.6pp | 69.3%-5.3pp |
| Annual return | 7.61% | 6.30%+1.3pp | 22.78%-15.2pp | 20.14%-12.5pp |
| Employer contribution / active EE | $1,318 | $2,400-45.1% | $3,574-63.1% | $2,281-42.2% |
| Participant deferral / active EE | $1,881 | $2,709-30.6% | $3,712-49.3% | $3,203-41.3% |
| Admin fee / account holder | $1,716 | $3,581-52.1% | $5,333-67.8% | $4,296-60.0% |