Filed July 1, 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.)
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 | $53,189 | $51,638+3.0% | $68,368-22.2% | $82,448-35.5% |
| Participation rate | 34.9% | 63.6%-28.7pp | 73.8%-38.8pp | 68.1%-33.1pp |
| Annual return | 18.02% | 37.53%-19.5pp | 292.57%-274.6pp | 41.64%-23.6pp |
| Employer contribution / active EE | $1,338 | $2,047-34.6% | $2,649-49.5% | $2,551-47.6% |
| Participant deferral / active EE | $2,140 | $2,914-26.6% | $4,123-48.1% | $4,139-48.3% |
| Admin fee / account holder | $3,154 | $4,643-32.1% | $5,150-38.8% | $7,234-56.4% |