Filed November 3, 2022 (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.
Employer contribution per participant is in the bottom quintile of the peer cohort.
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).
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 | $34,192 | $41,824-18.2% | $136,833-75.0% | $69,733-51.0% |
| Participation rate | 60.9% | 29.3%+31.6pp | 59.0%+1.9pp | 62.5%-1.5pp |
| Annual return | 12.94% | 13.53%-0.6pp | 35.32%-22.4pp | 15.22%-2.3pp |
| Employer contribution / active EE | -$53 | $494-110.8% | $1,319-104.0% | $2,250-102.4% |
| Participant deferral / active EE | $1,424 | $1,105+28.9% | $2,441-41.6% | $3,054-53.4% |
| Admin fee / account holder | $3,082 | $2,895+6.4% | $4,706-34.5% | $3,102-0.7% |