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 | $38,953 | $72,269-46.1% | $101,271-61.5% | $79,852-51.2% |
| Participation rate | 69.2% | 68.5%+0.8pp | 75.8%-6.6pp | 69.6%-0.4pp |
| Annual return | 19.88% | 22.29%-2.4pp | 46.48%-26.6pp | 31.72%-11.8pp |
| Employer contribution / active EE | $3,387 | $2,692+25.8% | $3,660-7.5% | $2,471+37.1% |
| Participant deferral / active EE | $4,376 | $3,282+33.4% | $4,371+0.1% | $3,740+17.0% |
| Admin fee / account holder | $1,103 | $4,401-74.9% | $5,948-81.5% | $5,306-79.2% |