Filed June 24, 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.)
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
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 | $21,269 | $60,165-64.6% | $74,184-71.3% | $55,167-61.4% |
| Participation rate | 55.4% | 74.2%-18.8pp | 76.6%-21.3pp | 69.0%-13.6pp |
| Annual return | 6.35% | 10.00%-3.6pp | 17.74%-11.4pp | 169.23%-162.9pp |
| Employer contribution / active EE | $788 | $1,600-50.7% | $2,370-66.8% | $1,963-59.8% |
| Participant deferral / active EE | $1,748 | $2,973-41.2% | $3,550-50.8% | $3,054-42.8% |
| Admin fee / account holder | $930 | $419+121.8% | $5,586-83.3% | $504+84.6% |