Filed January 16, 2024 (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.
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 | $19,928 | $47,105-57.7% | $68,368-70.9% | $67,986-70.7% |
| Participation rate | 37.3% | 51.8%-14.4pp | 73.8%-36.4pp | 57.2%-19.9pp |
| Annual return | 18.74% | 48.37%-29.6pp | 292.57%-273.8pp | 31.67%-12.9pp |
| Employer contribution / active EE | $593 | $1,859-68.1% | $2,649-77.6% | $2,019-70.6% |
| Participant deferral / active EE | $1,422 | $2,374-40.1% | $4,123-65.5% | $3,358-57.7% |
| Admin fee / account holder | $2,513 | $2,435+3.2% | $5,150-51.2% | $3,203-21.6% |