Filed May 16, 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.)
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 | $19,970 | $98,760-79.8% | $149,715-86.7% | $79,858-75.0% |
| Participation rate | 40.9% | 75.8%-34.9pp | 82.5%-41.6pp | 69.6%-28.8pp |
| Annual return | 49.16% | 27.43%+21.7pp | 276.66%-227.5pp | 31.72%+17.4pp |
| Employer contribution / active EE | $0 | $3,217-100.0% | $4,645-100.0% | $2,471-100.0% |
| Participant deferral / active EE | $3,247 | $5,681-42.8% | $6,842-52.5% | $3,740-13.2% |
| Admin fee / account holder | $750 | $6,053-87.6% | $9,310-91.9% | $5,306-85.9% |