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 | $99,875-60.0% | $146,866-72.8% | $86,983-54.1% |
| Participation rate | 37.0% | 75.8%-38.8pp | 82.5%-45.6pp | 69.5%-32.6pp |
| Annual return | 17.56% | 28.10%-10.5pp | 102.85%-85.3pp | 25.83%-8.3pp |
| Employer contribution / active EE | $1,153 | $3,224-64.2% | $4,425-73.9% | $2,584-55.4% |
| Participant deferral / active EE | $2,657 | $6,322-58.0% | $7,759-65.8% | $4,194-36.6% |
| Admin fee / account holder | $3,451 | $7,838-56.0% | $13,620-74.7% | $7,856-56.1% |