Filed June 16, 2023
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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 | $119,842 | $72,177+66.0% | $115,038+4.2% | $59,633+101.0% |
| Participation rate | 37.5% | 72.6%-35.1pp | 81.4%-43.9pp | 68.7%-31.2pp |
| Annual return | -1.10% | 12.02%-13.1pp | 26.14%-27.2pp | 2041.45%-2042.5pp |
| Employer contribution / active EE | $591 | $2,841-79.2% | $4,608-87.2% | $2,203-73.2% |
| Participant deferral / active EE | $2,236 | $4,783-53.3% | $6,026-62.9% | $3,192-30.0% |
| Admin fee / account holder | $9,259 | $4,927+87.9% | $8,175+13.3% | $4,297+115.5% |