Filed September 5, 2023
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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 | $78,809 | $40,275+95.7% | $57,356+37.4% | $59,633+32.2% |
| Participation rate | 0.0% | 69.1%-69.1pp | 75.1%-75.1pp | 68.7%-68.7pp |
| Annual return | 0.75% | 27.52%-26.8pp | 24.41%-23.7pp | 2041.45%-2040.7pp |
| Employer contribution / active EE | $0 | $1,921-100.0% | $2,689-100.0% | $2,203-100.0% |
| Participant deferral / active EE | $4,148 | $2,400+72.8% | $3,162+31.2% | $3,192+30.0% |
| Admin fee / account holder | $7,962 | $2,820+182.3% | $3,357+137.2% | $4,297+85.3% |