Filed June 10, 2024
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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 | $56,231 | $95,404-41.1% | $113,397-50.4% | $82,637-32.0% |
| Participation rate | 69.1% | 72.8%-3.7pp | 76.5%-7.4pp | 68.1%+1.1pp |
| Annual return | 13.18% | 19.08%-5.9pp | 23.20%-10.0pp | 53.51%-40.3pp |
| Employer contribution / active EE | $2,020 | $2,307-12.4% | $2,977-32.2% | $2,552-20.9% |
| Participant deferral / active EE | $3,947 | $4,220-6.5% | $5,076-22.3% | $4,126-4.3% |
| Admin fee / account holder | $1,034 | $9,168-88.7% | $11,957-91.4% | $7,339-85.9% |