Filed September 23, 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).
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $22,084 | $52,580-58.0% | $71,671-69.2% | $70,126-68.5% |
| Participation rate | 64.0% | 60.9%+3.1pp | 68.7%-4.7pp | 69.5%-5.5pp |
| Annual return | 14.37% | 20.25%-5.9pp | 20.65%-6.3pp | 73.15%-58.8pp |
| Employer contribution / active EE | $1,539 | $1,616-4.8% | $2,460-37.5% | $2,343-34.3% |
| Participant deferral / active EE | $2,670 | $2,386+11.9% | $3,438-22.3% | $3,332-19.9% |
| Admin fee / account holder | $2,814 | $3,653-23.0% | $5,558-49.4% | $4,645-39.4% |