Filed May 25, 2023
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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 | $74,601 | $73,978+0.8% | $96,515-22.7% | $75,173-0.8% |
| Participation rate | 63.4% | 66.4%-3.0pp | 74.3%-10.9pp | 67.2%-3.8pp |
| Annual return | 24.62% | 26.72%-2.1pp | 35.73%-11.1pp | 160.72%-136.1pp |
| Employer contribution / active EE | $1,740 | $2,931-40.6% | $3,740-53.5% | $2,671-34.9% |
| Participant deferral / active EE | $4,179 | $3,660+14.2% | $4,880-14.3% | $4,126+1.3% |
| Admin fee / account holder | $4,972 | $5,219-4.7% | $6,735-26.2% | $5,651-12.0% |