Filed March 24, 2022
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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).
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 | $18,633 | $55,470-66.4% | $155,556-88.0% | $74,478-75.0% |
| Participation rate | 42.7% | 61.9%-19.2pp | 78.2%-35.6pp | 67.2%-24.6pp |
| Annual return | 12.44% | 269.80%-257.4pp | 64.84%-52.4pp | 1370.56%-1358.1pp |
| Employer contribution / active EE | $488 | $2,267-78.5% | $4,675-89.6% | $2,626-81.4% |
| Participant deferral / active EE | $1,308 | $2,838-53.9% | $5,631-76.8% | $4,350-69.9% |
| Admin fee / account holder | $2,321 | $1,744+33.1% | $15,885-85.4% | $1,946+19.3% |