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 | $50,215 | $108,825-53.9% | $156,181-67.8% | $82,448-39.1% |
| Participation rate | 51.5% | 72.4%-20.9pp | 78.8%-27.3pp | 68.1%-16.6pp |
| Annual return | 16.52% | 20.59%-4.1pp | 64.87%-48.4pp | 41.64%-25.1pp |
| Employer contribution / active EE | $1,000 | $2,870-65.2% | $4,294-76.7% | $2,551-60.8% |
| Participant deferral / active EE | $6,877 | $4,577+50.3% | $6,132+12.2% | $4,139+66.1% |
| Admin fee / account holder | $16,549 | $9,341+77.2% | $14,586+13.5% | $7,234+128.8% |