Filed September 3, 2024
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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 | $12,238 | $36,806-66.8% | $69,623-82.4% | $77,736-84.3% |
| Participation rate | 9.2% | 64.4%-55.2pp | 66.4%-57.3pp | 70.6%-61.4pp |
| Annual return | 17.75% | 38.81%-21.1pp | 101.23%-83.5pp | 31.26%-13.5pp |
| Employer contribution / active EE | $0 | $1,257-100.0% | $1,709-100.0% | $2,728-100.0% |
| Participant deferral / active EE | $681 | $2,738-75.1% | $2,890-76.4% | $4,651-85.4% |
| Admin fee / account holder | $4,291 | $507+746.5% | $4,696-8.6% | $433+890.2% |