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 | $37,812 | $58,311-35.2% | $81,882-53.8% | $80,959-53.3% |
| Participation rate | 48.4% | 63.5%-15.0pp | 72.4%-23.9pp | 67.7%-19.2pp |
| Annual return | 21.88% | 41.85%-20.0pp | 779.47%-757.6pp | 35.67%-13.8pp |
| Employer contribution / active EE | $1,100 | $2,347-53.1% | $2,916-62.3% | $2,757-60.1% |
| Participant deferral / active EE | $2,208 | $3,287-32.8% | $4,323-48.9% | $4,300-48.7% |
| Admin fee / account holder | $1,297 | $4,752-72.7% | $7,360-82.4% | $6,925-81.3% |