Filed February 7, 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.)
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $77,156 | $138,393-44.2% | $184,256-58.1% | $80,959-4.7% |
| Participation rate | 50.0% | 83.9%-33.9pp | 86.8%-36.8pp | 67.7%-17.7pp |
| Annual return | 14.66% | 20.01%-5.4pp | 28.85%-14.2pp | 35.67%-21.0pp |
| Employer contribution / active EE | $2,087 | $4,847-56.9% | $6,427-67.5% | $2,757-24.3% |
| Participant deferral / active EE | $3,775 | $7,076-46.7% | $9,133-58.7% | $4,300-12.2% |
| Admin fee / account holder | $9,622 | $10,489-8.3% | $13,899-30.8% | $6,925+38.9% |