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 | $17,857 | $64,716-72.4% | $112,258-84.1% | $68,495-73.9% |
| Participation rate | 50.0% | 67.2%-17.2pp | 75.1%-25.1pp | 67.9%-17.9pp |
| Annual return | 19.74% | -11.40%+31.1pp | 27.47%-7.7pp | -7.84%+27.6pp |
| Employer contribution / active EE | $1,153 | $2,746-58.0% | $3,636-68.3% | $2,596-55.6% |
| Participant deferral / active EE | $2,493 | $3,565-30.1% | $4,728-47.3% | $4,028-38.1% |
| Admin fee / account holder | $765 | $5,232-85.4% | $6,411-88.1% | $5,403-85.8% |