Filed July 2, 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 | $29,579 | $81,276-63.6% | $155,574-81.0% | $80,925-63.4% |
| Participation rate | 21.9% | 66.2%-44.4pp | 78.2%-56.3pp | 67.7%-45.8pp |
| Annual return | 17.78% | 33.36%-15.6pp | 64.87%-47.1pp | 35.65%-17.9pp |
| Employer contribution / active EE | $0 | $3,103-100.0% | $4,676-100.0% | $2,756-100.0% |
| Participant deferral / active EE | $2,064 | $3,453-40.2% | $5,629-63.3% | $4,299-52.0% |
| Admin fee / account holder | $1,860 | $7,993-76.7% | $15,914-88.3% | $6,940-73.2% |