Filed August 19, 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 | $25,510 | $81,476-68.7% | $102,383-75.1% | $80,925-68.5% |
| Participation rate | 56.7% | 66.8%-10.2pp | 74.5%-17.8pp | 67.7%-11.0pp |
| Annual return | 10.84% | 25.59%-14.8pp | 24.94%-14.1pp | 35.65%-24.8pp |
| Employer contribution / active EE | $1,452 | $3,105-53.2% | $3,870-62.5% | $2,756-47.3% |
| Participant deferral / active EE | $2,840 | $3,871-26.6% | $5,060-43.9% | $4,299-33.9% |
| Admin fee / account holder | $2,545 | $6,717-62.1% | $8,391-69.7% | $6,940-63.3% |