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 | $13,710 | $63,346-78.4% | $92,240-85.1% | $70,126-80.4% |
| Participation rate | 47.5% | 68.7%-21.2pp | 76.5%-29.0pp | 69.5%-22.0pp |
| Annual return | 19.75% | 530.19%-510.4pp | 176.29%-156.5pp | 73.15%-53.4pp |
| Employer contribution / active EE | $1,778 | $2,471-28.0% | $3,680-51.7% | $2,343-24.1% |
| Participant deferral / active EE | $1,915 | $2,854-32.9% | $3,897-50.9% | $3,332-42.5% |
| Admin fee / account holder | $938 | $3,841-75.6% | $5,194-81.9% | $4,645-79.8% |