Filed March 14, 2024
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer contribution per participant is in the bottom quintile of the peer cohort.
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 | $32,180 | $76,551-58.0% | $123,894-74.0% | $62,881-48.8% |
| Participation rate | 35.9% | 73.0%-37.1pp | 81.4%-45.5pp | 69.3%-33.4pp |
| Annual return | 0.00% | 18.68%-18.7pp | 47.52%-47.5pp | 20.14%-20.1pp |
| Employer contribution / active EE | $353 | $2,882-87.7% | $4,617-92.3% | $2,281-84.5% |
| Participant deferral / active EE | $3,013 | $4,840-37.7% | $5,984-49.6% | $3,203-5.9% |
| Admin fee / account holder | $18,301 | $4,826+279.2% | $8,357+119.0% | $4,296+326.0% |