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.)
Annual investment return is in the bottom quintile of the peer cohort.
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 | $36,140-5.4% | $73,658-53.6% | $64,340-46.9% |
| Participation rate | 60.9% | 31.0%+29.9pp | 57.0%+3.9pp | 55.2%+5.7pp |
| Annual return | 12.94% | 21.48%-8.5pp | 29.72%-16.8pp | 24.14%-11.2pp |
| Employer contribution / active EE | -$53 | $443-112.0% | $1,032-105.2% | $1,862-102.9% |
| Participant deferral / active EE | $1,424 | $1,023+39.3% | $2,062-30.9% | $2,980-52.2% |
| Admin fee / account holder | $3,082 | $2,513+22.6% | $3,357-8.2% | $3,703-16.8% |