Filed January 30, 2024
Total covered: 5 employees
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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 | $7,359 | $148,623-95.0% | $135,974-94.6% | $139,466-94.7% |
| Participation rate | 26.1% | 83.9%-57.8pp | 81.9%-55.8pp | 80.3%-54.2pp |
| Annual return | 51.07% | 79.30%-28.2pp | 68.30%-17.2pp | 373.66%-322.6pp |
| Employer contribution / active EE | $0 | $5,246-100.0% | $4,859-100.0% | $4,754-100.0% |
| Participant deferral / active EE | $1,500 | $8,103-81.5% | $7,760-80.7% | $6,712-77.7% |
| Admin fee / account holder | $304 | $12,406-97.5% | $10,767-97.2% | $11,409-97.3% |