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 | $101,950+38.0% | $125,529+12.1% | $86,983+61.8% |
| Participation rate | 45.5% | 70.2%-24.7pp | 74.7%-29.3pp | 69.5%-24.1pp |
| Annual return | 13.04% | 18.29%-5.2pp | 202.56%-189.5pp | 25.83%-12.8pp |
| Employer contribution / active EE | $381 | $2,358-83.9% | $3,058-87.6% | $2,584-85.3% |
| Participant deferral / active EE | $3,215 | $3,862-16.8% | $4,813-33.2% | $4,194-23.3% |
| Admin fee / account holder | $1,588 | $12,791-87.6% | $16,298-90.3% | $7,856-79.8% |