Filed November 15, 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 | $23,014 | $82,674-72.2% | $125,381-81.6% | $68,486-66.4% |
| Participation rate | 46.5% | 75.1%-28.5pp | 82.4%-35.9pp | 67.9%-21.4pp |
| Annual return | -16.22% | -5.97%-10.2pp | 572.31%-588.5pp | -7.85%-8.4pp |
| Employer contribution / active EE | $1,396 | $3,382-58.7% | $4,815-71.0% | $2,597-46.2% |
| Participant deferral / active EE | $2,854 | $6,111-53.3% | $7,448-61.7% | $4,028-29.1% |
| Admin fee / account holder | $2,428 | $6,277-61.3% | $10,007-75.7% | $5,404-55.1% |