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 | $42,465 | $46,534-8.7% | $64,097-33.7% | $75,177-43.5% |
| Participation rate | 66.2% | 65.9%+0.3pp | 72.3%-6.1pp | 67.2%-1.0pp |
| Annual return | 20.08% | 26.07%-6.0pp | 33.75%-13.7pp | 160.75%-140.7pp |
| Employer contribution / active EE | $1,247 | $1,976-36.9% | $2,750-54.7% | $2,671-53.3% |
| Participant deferral / active EE | $1,883 | $2,835-33.6% | $3,881-51.5% | $4,126-54.4% |
| Admin fee / account holder | $2,283 | $2,957-22.8% | $3,070-25.6% | $5,651-59.6% |