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.)
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 | $17,038 | $57,352-70.3% | $83,830-79.7% | $64,173-73.5% |
| Participation rate | 65.7% | 68.6%-2.9pp | 76.1%-10.4pp | 69.6%-3.9pp |
| Annual return | -1.07% | 11.38%-12.5pp | 850.97%-852.0pp | 7.63%-8.7pp |
| Employer contribution / active EE | $2,199 | $2,546-13.6% | $3,631-39.4% | $2,381-7.6% |
| Participant deferral / active EE | $2,483 | $2,993-17.0% | $4,082-39.2% | $3,470-28.4% |
| Admin fee / account holder | $527 | $4,046-87.0% | $5,479-90.4% | $4,887-89.2% |