Filed April 8, 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 | $26,218 | $85,766-69.4% | $136,298-80.8% | $70,126-62.6% |
| Participation rate | 61.8% | 74.2%-12.3pp | 81.9%-20.1pp | 69.5%-7.7pp |
| Annual return | 0.00% | 31.46%-31.5pp | 5156.27%-5156.3pp | 73.15%-73.1pp |
| Employer contribution / active EE | $1,358 | $2,966-54.2% | $4,696-71.1% | $2,343-42.0% |
| Participant deferral / active EE | $2,238 | $5,051-55.7% | $6,247-64.2% | $3,332-32.8% |
| Admin fee / account holder | $455 | $5,421-91.6% | $9,244-95.1% | $4,645-90.2% |