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 | $57,061-62.7% | $85,063-75.0% | $80,911-73.7% |
| Participation rate | 38.5% | 56.3%-17.9pp | 67.5%-29.0pp | 67.6%-29.2pp |
| Annual return | 21.69% | 21.66%0pp | 66.54%-44.8pp | 35.63%-13.9pp |
| Employer contribution / active EE | $879 | $1,799-51.1% | $2,727-67.8% | $2,756-68.1% |
| Participant deferral / active EE | $1,533 | $3,110-50.7% | $4,523-66.1% | $4,297-64.3% |
| Admin fee / account holder | $1,300 | $4,986-73.9% | $6,155-78.9% | $6,935-81.3% |