Filed April 20, 2023
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Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $13,432 | $106,749-87.4% | $145,433-90.8% | $82,448-83.7% |
| Participation rate | 90.9% | 75.6%+15.3pp | 82.1%+8.8pp | 68.1%+22.8pp |
| Annual return | 19.07% | 27.59%-8.5pp | 66.58%-47.5pp | 41.64%-22.6pp |
| Employer contribution / active EE | $1,553 | $3,444-54.9% | $4,554-65.9% | $2,551-39.1% |
| Participant deferral / active EE | $3,107 | $6,519-52.3% | $7,897-60.7% | $4,139-24.9% |
| Admin fee / account holder | $1,050 | $8,390-87.5% | $13,129-92.0% | $7,234-85.5% |