Filed June 26, 2024
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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 | $83,211 | $45,438+83.1% | $80,004+4.0% | $59,633+39.5% |
| Participation rate | 69.4% | 63.7%+5.7pp | 73.0%-3.6pp | 68.7%+0.8pp |
| Annual return | 2.47% | 5.10%-2.6pp | 7.63%-5.2pp | 2041.40%-2038.9pp |
| Employer contribution / active EE | $2,812 | $1,236+127.5% | $2,473+13.7% | $2,203+27.6% |
| Participant deferral / active EE | $5,976 | $2,231+167.9% | $3,204+86.5% | $3,192+87.2% |
| Admin fee / account holder | $4,221 | $3,464+21.8% | $5,033-16.1% | $4,297-1.8% |