Filed October 14, 2024
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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).
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $17,673 | $85,766-79.4% | $136,297-87.0% | $70,124-74.8% |
| Participation rate | 60.4% | 74.2%-13.8pp | 81.9%-21.5pp | 69.5%-9.2pp |
| Annual return | 16.82% | 31.45%-14.6pp | 5156.19%-5139.4pp | 73.14%-56.3pp |
| Employer contribution / active EE | $1,507 | $2,966-49.2% | $4,696-67.9% | $2,342-35.6% |
| Participant deferral / active EE | $3,780 | $5,051-25.2% | $6,247-39.5% | $3,332+13.5% |
| Admin fee / account holder | $1,547 | $5,420-71.5% | $9,244-83.3% | $4,645-66.7% |