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).
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $7,364 | $93,598-92.1% | $135,974-94.6% | $75,173-90.2% |
| Participation rate | 83.3% | 75.2%+8.1pp | 81.9%+1.4pp | 67.2%+16.1pp |
| Annual return | 24.26% | 30.89%-6.6pp | 68.30%-44.0pp | 160.72%-136.5pp |
| Employer contribution / active EE | $1,364 | $3,538-61.4% | $4,859-71.9% | $2,671-48.9% |
| Participant deferral / active EE | $2,651 | $6,405-58.6% | $7,760-65.8% | $4,126-35.8% |
| Admin fee / account holder | $449 | $6,978-93.6% | $10,767-95.8% | $5,651-92.1% |