Filed January 23, 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.)
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 | $6,185 | $43,344-85.7% | $59,899-89.7% | $64,173-90.4% |
| Participation rate | 44.9% | 69.2%-24.2pp | 74.7%-29.8pp | 69.6%-24.6pp |
| Annual return | 4.24% | -1.55%+5.8pp | 3.46%+0.8pp | 7.63%-3.4pp |
| Employer contribution / active EE | $933 | $2,030-54.0% | $2,723-65.7% | $2,381-60.8% |
| Participant deferral / active EE | $850 | $2,547-66.6% | $3,402-75.0% | $3,470-75.5% |
| Admin fee / account holder | $525 | $3,008-82.5% | $3,592-85.4% | $4,887-89.3% |