Filed November 22, 2024
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer 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.)
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 | $8,432 | $55,470-84.8% | $155,556-94.6% | $74,478-88.7% |
| Participation rate | 30.6% | 61.9%-31.3pp | 78.2%-47.7pp | 67.2%-36.7pp |
| Annual return | 18.94% | 269.80%-250.9pp | 64.84%-45.9pp | 1370.56%-1351.6pp |
| Employer contribution / active EE | $258 | $2,267-88.6% | $4,675-94.5% | $2,626-90.2% |
| Participant deferral / active EE | $837 | $2,838-70.5% | $5,631-85.1% | $4,350-80.8% |
| Admin fee / account holder | $1,917 | $1,744+9.9% | $15,885-87.9% | $1,946-1.5% |