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 | $95,453-41.1% | $112,040-49.8% | $82,448-31.8% |
| Participation rate | 69.1% | 72.8%-3.6pp | 76.5%-7.4pp | 68.1%+1.0pp |
| Annual return | 13.18% | 23.92%-10.7pp | 24.52%-11.3pp | 41.64%-28.5pp |
| Employer contribution / active EE | $2,020 | $2,318-12.9% | $2,954-31.6% | $2,551-20.8% |
| Participant deferral / active EE | $3,947 | $4,224-6.6% | $5,098-22.6% | $4,139-4.7% |
| Admin fee / account holder | $1,034 | $9,013-88.5% | $12,098-91.5% | $7,234-85.7% |