Filed October 6, 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 | $13,474 | $60,442-77.7% | $96,754-86.1% | $87,485-84.6% |
| Participation rate | 38.1% | 58.7%-20.6pp | 70.3%-32.1pp | 68.9%-30.8pp |
| Annual return | 17.28% | 21.97%-4.7pp | 82.04%-64.8pp | 26.06%-8.8pp |
| Employer contribution / active EE | $748 | $1,691-55.7% | $2,679-72.1% | $2,596-71.2% |
| Participant deferral / active EE | $957 | $3,280-70.8% | $4,758-79.9% | $4,274-77.6% |
| Admin fee / account holder | $1,708 | $5,069-66.3% | $8,905-80.8% | $7,775-78.0% |