Filed June 3, 2022
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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).
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $8,212 | $61,356-86.6% | $149,696-94.5% | $71,511-88.5% |
| Participation rate | 92.6% | 62.5%+30.1pp | 78.8%+13.8pp | 67.9%+24.7pp |
| Annual return | 82.37% | 35.86%+46.5pp | 134.46%-52.1pp | 28.86%+53.5pp |
| Employer contribution / active EE | $2,136 | $2,382-10.3% | $4,821-55.7% | $2,589-17.5% |
| Participant deferral / active EE | $2,239 | $2,920-23.3% | $5,682-60.6% | $4,291-47.8% |
| Admin fee / account holder | $728 | $1,263-42.4% | $13,212-94.5% | $1,588-54.2% |