Filed July 2, 2024
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer 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 | $33,841 | $86,050-60.7% | $189,758-82.2% | $94,015-64.0% |
| Participation rate | 43.3% | 68.9%-25.6pp | 79.8%-36.5pp | 70.8%-27.5pp |
| Annual return | 12.36% | 17.77%-5.4pp | 52.62%-40.3pp | 17.84%-5.5pp |
| Employer contribution / active EE | $0 | $2,819-100.0% | $4,767-100.0% | $2,790-100.0% |
| Participant deferral / active EE | $2,463 | $3,349-26.4% | $5,856-57.9% | $4,249-42.0% |
| Admin fee / account holder | $311 | $6,627-95.3% | $20,388-98.5% | $8,951-96.5% |