Filed July 25, 2023 (most recent of 2 filings on file)
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Participant 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 | $25,152 | $65,960-61.9% | $81,882-69.3% | $77,762-67.7% |
| Participation rate | 6.7% | 65.8%-59.0pp | 72.4%-65.7pp | 70.6%-63.9pp |
| Annual return | 13.42% | 26.64%-13.2pp | 779.47%-766.1pp | 31.27%-17.8pp |
| Employer contribution / active EE | $0 | $2,375-100.0% | $2,916-100.0% | $2,728-100.0% |
| Participant deferral / active EE | $526 | $3,505-85.0% | $4,323-87.8% | $4,651-88.7% |
| Admin fee / account holder | $1,142 | $526+116.9% | $7,360-84.5% | $433+163.8% |