Filed May 29, 2024
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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 | $21,304 | $57,140-62.7% | $85,240-75.0% | $80,959-73.7% |
| Participation rate | 38.5% | 56.4%-17.9pp | 67.5%-29.1pp | 67.7%-29.2pp |
| Annual return | 21.69% | 21.71%0pp | 66.75%-45.1pp | 35.67%-14.0pp |
| Employer contribution / active EE | $879 | $1,802-51.2% | $2,735-67.9% | $2,757-68.1% |
| Participant deferral / active EE | $1,533 | $3,115-50.8% | $4,527-66.1% | $4,300-64.4% |
| Admin fee / account holder | $1,300 | $4,992-74.0% | $6,165-78.9% | $6,925-81.2% |