Filed May 12, 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 | $11,958 | $55,932-78.6% | $76,735-84.4% | $67,986-82.4% |
| Participation rate | 33.7% | 50.8%-17.1pp | 69.5%-35.8pp | 57.2%-23.5pp |
| Annual return | 21.92% | 23.10%-1.2pp | 29.77%-7.8pp | 31.67%-9.7pp |
| Employer contribution / active EE | $452 | $1,487-69.6% | $2,454-81.6% | $2,019-77.6% |
| Participant deferral / active EE | $990 | $2,558-61.3% | $4,088-75.8% | $3,358-70.5% |
| Admin fee / account holder | $1,680 | $4,907-65.8% | $7,189-76.6% | $3,203-47.5% |