Filed December 12, 2024 (most recent of 2 filings on file)
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Participant contribution per participant is in the bottom quintile of the peer cohort.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Annual investment return is in the bottom quintile of the peer cohort.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
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 | $11,867 | $45,566-74.0% | $64,105-81.5% | $59,633-80.1% |
| Participation rate | 16.3% | 60.2%-43.8pp | 68.2%-51.8pp | 68.7%-52.3pp |
| Annual return | -7.14% | 4.95%-12.1pp | 791.24%-798.4pp | 2041.45%-2048.6pp |
| Employer contribution / active EE | $0 | $934-100.0% | $1,820-100.0% | $2,203-100.0% |
| Participant deferral / active EE | $476 | $2,057-76.8% | $2,822-83.1% | $3,192-85.1% |
| Admin fee / account holder | $1,367 | $3,268-58.1% | $4,499-69.6% | $4,297-68.2% |