Filed January 15, 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.)
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 | $19,830 | $39,162-49.4% | $100,671-80.3% | $59,633-66.7% |
| Participation rate | 47.8% | 55.9%-8.1pp | 70.7%-23.0pp | 68.7%-20.9pp |
| Annual return | 1.11% | 21.07%-20.0pp | 20.43%-19.3pp | 2041.45%-2040.3pp |
| Employer contribution / active EE | $656 | $1,151-43.0% | $4,012-83.6% | $2,203-70.2% |
| Participant deferral / active EE | $1,247 | $1,992-37.4% | $3,144-60.3% | $3,192-60.9% |
| Admin fee / account holder | $344 | $2,969-88.4% | $4,850-92.9% | $4,297-92.0% |