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 | $34,739 | $64,719-46.3% | $112,249-69.1% | $68,486-49.3% |
| Participation rate | 67.8% | 67.2%+0.6pp | 75.1%-7.3pp | 67.9%-0.1pp |
| Annual return | -17.50% | -11.40%-6.1pp | 27.48%-45.0pp | -7.85%-9.6pp |
| Employer contribution / active EE | $3,105 | $2,747+13.0% | $3,636-14.6% | $2,597+19.6% |
| Participant deferral / active EE | $6,153 | $3,565+72.6% | $4,729+30.1% | $4,028+52.8% |
| Admin fee / account holder | $837 | $5,232-84.0% | $6,412-86.9% | $5,404-84.5% |