Filed January 17, 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 | $29,030 | $49,249-41.1% | $70,476-58.8% | $79,852-63.6% |
| Participation rate | 55.4% | 69.2%-13.8pp | 75.1%-19.7pp | 69.6%-14.3pp |
| Annual return | 21.13% | 30.09%-9.0pp | 109.12%-88.0pp | 31.72%-10.6pp |
| Employer contribution / active EE | $1,076 | $2,100-48.8% | $2,738-60.7% | $2,471-56.4% |
| Participant deferral / active EE | $2,713 | $2,769-2.0% | $3,710-26.9% | $3,740-27.5% |
| Admin fee / account holder | $3,360 | $2,878+16.7% | $3,847-12.7% | $5,306-36.7% |