Filed June 12, 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 | $37,614 | $52,580-28.5% | $71,671-47.5% | $70,124-46.4% |
| Participation rate | 44.4% | 60.9%-16.4pp | 68.7%-24.3pp | 69.5%-25.1pp |
| Annual return | 19.43% | 20.25%-0.8pp | 20.65%-1.2pp | 73.14%-53.7pp |
| Employer contribution / active EE | $0 | $1,616-100.0% | $2,460-100.0% | $2,342-100.0% |
| Participant deferral / active EE | $1,553 | $2,386-34.9% | $3,438-54.8% | $3,332-53.4% |
| Admin fee / account holder | $587 | $3,653-83.9% | $5,558-89.4% | $4,645-87.4% |