Filed April 2, 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).
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $17,009 | $85,515-80.1% | $112,040-84.8% | $67,986-75.0% |
| Participation rate | 90.9% | 68.2%+22.7pp | 76.5%+14.4pp | 57.2%+33.7pp |
| Annual return | 21.80% | 29.68%-7.9pp | 24.52%-2.7pp | 31.67%-9.9pp |
| Employer contribution / active EE | $1,541 | $2,191-29.6% | $2,954-47.8% | $2,019-23.6% |
| Participant deferral / active EE | $3,712 | $4,014-7.5% | $5,098-27.2% | $3,358+10.5% |
| Admin fee / account holder | $830 | $3,774-78.0% | $12,098-93.1% | $3,203-74.1% |