Filed July 12, 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 | $140,375 | $109,620+28.1% | $148,496-5.5% | $94,015+49.3% |
| Participation rate | 55.6% | 71.3%-15.7pp | 76.0%-20.5pp | 70.8%-15.3pp |
| Annual return | 12.91% | 17.54%-4.6pp | 12.33%+0.6pp | 17.84%-4.9pp |
| Employer contribution / active EE | $2,099 | $2,618-19.8% | $3,497-40.0% | $2,790-24.8% |
| Participant deferral / active EE | $3,656 | $3,831-4.6% | $4,808-24.0% | $4,249-14.0% |
| Admin fee / account holder | $20,261 | $10,050+101.6% | $19,547+3.6% | $8,951+126.3% |