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 | $27,810 | $59,839-53.5% | $81,988-66.1% | $79,858-65.2% |
| Participation rate | 52.3% | 61.6%-9.3pp | 69.3%-17.0pp | 69.6%-17.4pp |
| Annual return | 13.32% | 17.56%-4.2pp | 41.31%-28.0pp | 31.72%-18.4pp |
| Employer contribution / active EE | $1,199 | $1,713-30.0% | $2,498-52.0% | $2,471-51.5% |
| Participant deferral / active EE | $2,609 | $2,695-3.2% | $3,722-29.9% | $3,740-30.2% |
| Admin fee / account holder | $1,820 | $4,287-57.6% | $5,665-67.9% | $5,306-65.7% |