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 | $34,827 | $45,087-22.8% | $69,483-49.9% | $72,976-52.3% |
| Participation rate | 67.9% | 68.5%-0.6pp | 74.6%-6.7pp | 69.5%-1.6pp |
| Annual return | 17.96% | 22.67%-4.7pp | 28.99%-11.0pp | 81.02%-63.1pp |
| Employer contribution / active EE | $676 | $2,055-67.1% | $2,780-75.7% | $2,440-72.3% |
| Participant deferral / active EE | $1,704 | $2,603-34.5% | $3,537-51.8% | $3,608-52.8% |
| Admin fee / account holder | $346 | $3,057-88.7% | $3,841-91.0% | $5,124-93.2% |