Filed October 3, 2022
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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 | $9,722 | $57,073-83.0% | $85,126-88.6% | $80,925-88.0% |
| Participation rate | 51.4% | 56.4%-5.0pp | 67.5%-16.1pp | 67.7%-16.2pp |
| Annual return | 25.28% | 21.69%+3.6pp | 66.63%-41.4pp | 35.65%-10.4pp |
| Employer contribution / active EE | $1,193 | $1,801-33.7% | $2,731-56.3% | $2,756-56.7% |
| Participant deferral / active EE | $1,624 | $3,113-47.8% | $4,523-64.1% | $4,299-62.2% |
| Admin fee / account holder | $2,551 | $4,988-48.8% | $6,160-58.6% | $6,940-63.2% |