Filed July 31, 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.)
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 | $9,740 | $69,823-86.1% | $76,872-87.3% | $74,460-86.9% |
| Participation rate | 46.5% | 70.0%-23.6pp | 69.6%-23.1pp | 70.7%-24.3pp |
| Annual return | 99.39% | 19.99%+79.4pp | 37.90%+61.5pp | 34.38%+65.0pp |
| Employer contribution / active EE | $1,180 | $2,148-45.0% | $2,533-53.4% | $2,638-55.3% |
| Participant deferral / active EE | $1,864 | $3,558-47.6% | $3,832-51.4% | $4,530-58.9% |
| Admin fee / account holder | $380 | $398-4.4% | $5,476-93.1% | $348+9.3% |