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 | $36,464 | $89,370-59.2% | $141,197-74.2% | $72,976-50.0% |
| Participation rate | 56.6% | 75.1%-18.5pp | 82.5%-25.8pp | 69.5%-12.9pp |
| Annual return | 26.78% | 111.88%-85.1pp | 71.41%-44.6pp | 81.02%-54.2pp |
| Employer contribution / active EE | $1,345 | $3,115-56.8% | $4,736-71.6% | $2,440-44.9% |
| Participant deferral / active EE | $2,523 | $5,419-53.4% | $6,710-62.4% | $3,608-30.1% |
| Admin fee / account holder | $643 | $5,957-89.2% | $10,265-93.7% | $5,124-87.5% |