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).
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $38,721 | $65,582-41.0% | $64,101-39.6% | $71,511-45.9% |
| Participation rate | 44.5% | 73.2%-28.7pp | 72.3%-27.8pp | 67.9%-23.4pp |
| Annual return | 22.99% | 18.96%+4.0pp | 33.72%-10.7pp | 28.86%-5.9pp |
| Employer contribution / active EE | $838 | $2,671-68.6% | $2,749-69.5% | $2,589-67.6% |
| Participant deferral / active EE | $2,734 | $3,628-24.6% | $3,881-29.5% | $4,291-36.3% |
| Admin fee / account holder | $1,089 | $616+76.7% | $3,070-64.5% | $1,588-31.4% |