Filed May 15, 2024
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer contribution per participant is in the bottom quintile of the peer cohort.
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 | $140,712 | $97,648+44.1% | $121,663+15.7% | $87,485+60.8% |
| Participation rate | 45.5% | 70.5%-25.0pp | 74.5%-29.0pp | 68.9%-23.5pp |
| Annual return | 13.04% | 18.03%-5.0pp | 147.54%-134.5pp | 26.06%-13.0pp |
| Employer contribution / active EE | $381 | $2,300-83.5% | $3,020-87.4% | $2,596-85.3% |
| Participant deferral / active EE | $3,215 | $3,923-18.0% | $4,887-34.2% | $4,274-24.8% |
| Admin fee / account holder | $1,588 | $11,100-85.7% | $14,289-88.9% | $7,775-79.6% |