Filed November 7, 2024
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Participant 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.)
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
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 | $12,513 | $80,748-84.5% | $102,383-87.8% | $74,429-83.2% |
| Participation rate | 22.4% | 65.7%-43.3pp | 74.5%-52.1pp | 67.2%-44.8pp |
| Annual return | 40.18% | 27.57%+12.6pp | 24.94%+15.2pp | 1368.38%-1328.2pp |
| Employer contribution / active EE | $915 | $3,159-71.0% | $3,870-76.3% | $2,625-65.1% |
| Participant deferral / active EE | $1,408 | $3,861-63.5% | $5,060-72.2% | $4,348-67.6% |
| Admin fee / account holder | $1,342 | $2,371-43.4% | $8,391-84.0% | $1,944-31.0% |