Filed February 12, 2024 (most recent of 2 filings on file)
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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 | $9,388 | $38,365-75.5% | $84,628-88.9% | $65,185-85.6% |
| Participation rate | 15.8% | 55.7%-39.8pp | 68.2%-52.4pp | 70.2%-54.4pp |
| Annual return | 62.99% | 32.00%+31.0pp | 258.80%-195.8pp | 29.38%+33.6pp |
| Employer contribution / active EE | $364 | $1,258-71.0% | $2,653-86.3% | $2,177-83.3% |
| Participant deferral / active EE | $1,125 | $2,278-50.6% | $3,900-71.1% | $3,514-68.0% |
| Admin fee / account holder | $4,200 | $451+830.5% | $4,914-14.5% | $847+395.7% |