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 | $20,502 | $41,377-50.5% | $109,313-81.2% | $62,881-67.4% |
| Participation rate | 54.4% | 57.5%-3.1pp | 71.3%-16.9pp | 69.3%-14.9pp |
| Annual return | 5.41% | 11.05%-5.6pp | 22.07%-16.7pp | 20.14%-14.7pp |
| Employer contribution / active EE | $740 | $1,276-42.0% | $3,892-81.0% | $2,281-67.6% |
| Participant deferral / active EE | $1,356 | $2,045-33.7% | $3,166-57.2% | $3,203-57.7% |
| Admin fee / account holder | $335 | $2,884-88.4% | $5,666-94.1% | $4,296-92.2% |