Filed April 25, 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.)
Annual investment return is in the bottom quintile of the peer cohort.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $95,336 | $36,140+163.8% | $73,658+29.4% | $64,340+48.2% |
| Participation rate | 19.9% | 31.0%-11.2pp | 57.0%-37.2pp | 55.2%-35.4pp |
| Annual return | 10.99% | 21.48%-10.5pp | 29.72%-18.7pp | 24.14%-13.2pp |
| Employer contribution / active EE | $747 | $443+68.6% | $1,032-27.6% | $1,862-59.9% |
| Participant deferral / active EE | $1,583 | $1,023+54.8% | $2,062-23.2% | $2,980-46.9% |
| Admin fee / account holder | $27,786 | $2,513+1005.7% | $3,357+727.8% | $3,703+650.5% |