Filed February 7, 2024
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Participant contribution per participant is in the bottom quintile of the peer cohort.
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 | $40,545 | $100,041-59.5% | $149,718-72.9% | $70,131-42.2% |
| Participation rate | 67.5% | 83.6%-16.1pp | 87.1%-19.6pp | 69.5%-2.0pp |
| Annual return | 13.94% | 27.43%-13.5pp | 1501.70%-1487.8pp | 73.14%-59.2pp |
| Employer contribution / active EE | $1,435 | $3,662-60.8% | $5,444-73.6% | $2,342-38.7% |
| Participant deferral / active EE | $2,192 | $4,983-56.0% | $6,568-66.6% | $3,332-34.2% |
| Admin fee / account holder | $6,659 | $8,286-19.6% | $11,283-41.0% | $4,645+43.3% |