Filed January 19, 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).
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 | $50,030 | $69,708-28.2% | $67,560-25.9% | $74,478-32.8% |
| Participation rate | 43.3% | 71.4%-28.2pp | 72.9%-29.7pp | 67.2%-24.0pp |
| Annual return | 19.30% | -40.67%+60.0pp | 3533.50%-3514.2pp | 1370.56%-1351.3pp |
| Employer contribution / active EE | $904 | $2,715-66.7% | $2,737-67.0% | $2,626-65.6% |
| Participant deferral / active EE | $3,173 | $3,637-12.8% | $4,004-20.8% | $4,350-27.1% |
| Admin fee / account holder | $572 | $887-35.5% | $3,994-85.7% | $1,946-70.6% |