Filed July 19, 2023
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Participant contribution per participant is in the bottom quintile of the peer cohort.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Annual investment return is in the bottom quintile of the peer cohort.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
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 | $20,433 | $94,529-78.4% | $140,019-85.4% | $64,173-68.2% |
| Participation rate | 75.0% | 84.1%-9.1pp | 87.5%-12.5pp | 69.6%+5.4pp |
| Annual return | -7.64% | 7.77%-15.4pp | 651.15%-658.8pp | 7.63%-15.3pp |
| Employer contribution / active EE | $1,483 | $3,812-61.1% | $5,605-73.5% | $2,381-37.7% |
| Participant deferral / active EE | $2,323 | $5,250-55.7% | $6,927-66.5% | $3,470-33.0% |
| Admin fee / account holder | $1,908 | $6,741-71.7% | $10,705-82.2% | $4,887-61.0% |