Filed August 23, 2023
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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 | $49,593 | $101,795-51.3% | $165,100-70.0% | $80,959-38.7% |
| Participation rate | 59.0% | 71.8%-12.9pp | 78.6%-19.6pp | 67.7%-8.7pp |
| Annual return | 13.68% | 16.73%-3.1pp | 70.21%-56.5pp | 35.67%-22.0pp |
| Employer contribution / active EE | $1,202 | $2,954-59.3% | $4,348-72.4% | $2,757-56.4% |
| Participant deferral / active EE | $6,211 | $4,476+38.8% | $6,035+2.9% | $4,300+44.4% |
| Admin fee / account holder | $3,880 | $8,221-52.8% | $12,696-69.4% | $6,925-44.0% |