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 | $94,031+49.6% | $115,768+21.5% | $82,448+70.7% |
| Participation rate | 45.5% | 70.4%-25.0pp | 74.4%-28.9pp | 68.1%-22.6pp |
| Annual return | 13.04% | 20.61%-7.6pp | 100.46%-87.4pp | 41.64%-28.6pp |
| Employer contribution / active EE | $381 | $2,323-83.6% | $2,940-87.1% | $2,551-85.1% |
| Participant deferral / active EE | $3,215 | $3,972-19.0% | $4,917-34.6% | $4,139-22.3% |
| Admin fee / account holder | $1,588 | $10,249-84.5% | $12,439-87.2% | $7,234-78.0% |