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 | $65,946-61.9% | $81,783-69.2% | $77,671-67.6% |
| Participation rate | 6.7% | 65.8%-59.1pp | 72.4%-65.6pp | 70.6%-63.8pp |
| Annual return | 13.42% | 26.65%-13.2pp | 775.05%-761.6pp | 31.21%-17.8pp |
| Employer contribution / active EE | $0 | $2,371-100.0% | $2,913-100.0% | $2,726-100.0% |
| Participant deferral / active EE | $526 | $3,507-85.0% | $4,320-87.8% | $4,648-88.7% |
| Admin fee / account holder | $1,142 | $527+116.7% | $7,380-84.5% | $430+165.3% |