Filed April 29, 2024
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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 | $13,498 | $59,116-77.2% | $86,438-84.4% | $68,486-80.3% |
| Participation rate | 82.8% | 75.2%+7.5pp | 80.3%+2.4pp | 67.9%+14.9pp |
| Annual return | -17.12% | -0.23%-16.9pp | 4397.19%-4414.3pp | -7.85%-9.3pp |
| Employer contribution / active EE | $1,951 | $2,519-22.5% | $3,769-48.2% | $2,597-24.9% |
| Participant deferral / active EE | $4,315 | $5,902-26.9% | $6,952-37.9% | $4,028+7.1% |
| Admin fee / account holder | $845 | $5,639-85.0% | $6,733-87.5% | $5,404-84.4% |