Filed April 29, 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 | $12,915 | $115,903-88.9% | $100,528-87.2% | $158,966-91.9% |
| Participation rate | 69.2% | 81.6%-12.4pp | 79.4%-10.2pp | 82.0%-12.7pp |
| Annual return | 19.54% | 34.80%-15.3pp | 30.90%-11.4pp | 302.95%-283.4pp |
| Employer contribution / active EE | $1,583 | $4,105-61.4% | $3,419-53.7% | $4,762-66.8% |
| Participant deferral / active EE | $5,069 | $6,677-24.1% | $6,271-19.2% | $5,983-15.3% |
| Admin fee / account holder | $8,127 | $11,000-26.1% | $8,084+0.5% | $11,250-27.8% |