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 | $33,712 | $93,598-64.0% | $135,974-75.2% | $75,173-55.2% |
| Participation rate | 46.9% | 75.2%-28.3pp | 81.9%-35.0pp | 67.2%-20.3pp |
| Annual return | 31.61% | 30.89%+0.7pp | 68.30%-36.7pp | 160.72%-129.1pp |
| Employer contribution / active EE | $5,423 | $3,538+53.3% | $4,859+11.6% | $2,671+103.0% |
| Participant deferral / active EE | $8,496 | $6,405+32.6% | $7,760+9.5% | $4,126+105.9% |
| Admin fee / account holder | $2,894 | $6,978-58.5% | $10,767-73.1% | $5,651-48.8% |