Filed September 3, 2024
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer 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 | $11,002 | $71,012-84.5% | $71,585-84.6% | $71,012-84.5% |
| Participation rate | 13.4% | 58.6%-45.2pp | 68.2%-54.8pp | 58.6%-45.2pp |
| Annual return | 56.08% | 37.67%+18.4pp | 59.26%-3.2pp | 37.67%+18.4pp |
| Employer contribution / active EE | $6 | $2,348-99.8% | $1,669-99.6% | $2,348-99.8% |
| Participant deferral / active EE | $904 | $3,246-72.2% | $2,923-69.1% | $3,246-72.2% |
| Admin fee / account holder | $3,042 | $1,167+160.7% | $4,712-35.4% | $1,167+160.7% |