Filed December 21, 2023
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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.)
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).
Plan appears closed to new enrollment or frozen - balance-holders far exceed active participants, or the plan reports active distributions with no inflows. Exclude from peer benchmarks.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $9,757 | $48,570-79.9% | $130,660-92.5% | $72,975-86.6% |
| Participation rate | 45.0% | 58.6%-13.6pp | 71.7%-26.7pp | 69.5%-24.5pp |
| Annual return | 18.56% | 38.63%-20.1pp | 1709.29%-1690.7pp | 81.01%-62.5pp |
| Employer contribution / active EE | $0 | $1,334-100.0% | $4,092-100.0% | $2,440-100.0% |
| Participant deferral / active EE | $0 | $2,384-100.0% | $3,603-100.0% | $3,608-100.0% |
| Admin fee / account holder | $487 | $3,549-86.3% | $5,463-91.1% | $5,124-90.5% |