Filed June 29, 2022
Total covered: 6 employees
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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 | $65,358 | $106,749-38.8% | $145,433-55.1% | $82,448-20.7% |
| Participation rate | 25.3% | 75.6%-50.3pp | 82.1%-56.8pp | 68.1%-42.8pp |
| Annual return | 19.80% | 27.59%-7.8pp | 66.58%-46.8pp | 41.64%-21.8pp |
| Employer contribution / active EE | $5,150 | $3,444+49.5% | $4,554+13.1% | $2,551+101.9% |
| Participant deferral / active EE | $6,518 | $6,5190% | $7,897-17.5% | $4,139+57.5% |
| Admin fee / account holder | $9,044 | $8,390+7.8% | $13,129-31.1% | $7,234+25.0% |