Filed October 21, 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 | $12,567 | $32,037-60.8% | $69,182-81.8% | $62,881-80.0% |
| Participation rate | 29.2% | 43.4%-14.3pp | 55.1%-25.9pp | 69.3%-40.1pp |
| Annual return | 8.23% | 15.16%-6.9pp | -21.93%+30.2pp | 20.14%-11.9pp |
| Employer contribution / active EE | $260 | $679-61.7% | $1,206-78.4% | $2,281-88.6% |
| Participant deferral / active EE | $439 | $1,185-63.0% | $1,897-76.9% | $3,203-86.3% |
| Admin fee / account holder | $799 | $2,608-69.4% | $2,697-70.4% | $4,296-81.4% |