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.)
Annual investment return is in the bottom quintile of the peer cohort.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $33,841 | $78,690-57.0% | $161,489-79.0% | $87,485-61.3% |
| Participation rate | 43.3% | 67.5%-24.2pp | 78.7%-35.4pp | 68.9%-25.6pp |
| Annual return | 12.36% | 32.74%-20.4pp | 89.72%-77.4pp | 26.06%-13.7pp |
| Employer contribution / active EE | $0 | $2,588-100.0% | $4,268-100.0% | $2,596-100.0% |
| Participant deferral / active EE | $2,463 | $3,311-25.6% | $5,630-56.2% | $4,274-42.4% |
| Admin fee / account holder | $311 | $6,724-95.4% | $16,006-98.1% | $7,775-96.0% |