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 | $38,277 | $87,834-56.4% | $133,975-71.4% | $62,881-39.1% |
| Participation rate | 67.5% | 83.4%-15.9pp | 87.1%-19.6pp | 69.3%-1.8pp |
| Annual return | 6.04% | 12.05%-6.0pp | 29.29%-23.3pp | 20.14%-14.1pp |
| Employer contribution / active EE | $1,501 | $3,482-56.9% | $5,211-71.2% | $2,281-34.2% |
| Participant deferral / active EE | $2,581 | $4,812-46.4% | $6,282-58.9% | $3,203-19.4% |
| Admin fee / account holder | $6,428 | $5,372+19.7% | $9,324-31.1% | $4,296+49.6% |