Filed November 7, 2023
Total covered: 8 employees
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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 | $39,967 | $106,864-62.6% | $147,318-72.9% | $82,637-51.6% |
| Participation rate | 37.0% | 75.5%-38.5pp | 82.1%-45.1pp | 68.1%-31.1pp |
| Annual return | 17.56% | 27.49%-9.9pp | 70.43%-52.9pp | 53.51%-35.9pp |
| Employer contribution / active EE | $1,153 | $3,417-66.2% | $4,593-74.9% | $2,552-54.8% |
| Participant deferral / active EE | $2,657 | $6,496-59.1% | $7,906-66.4% | $4,126-35.6% |
| Admin fee / account holder | $3,451 | $8,415-59.0% | $13,708-74.8% | $7,339-53.0% |