Filed June 14, 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 | $12,291 | $43,338-71.6% | $59,887-79.5% | $64,173-80.8% |
| Participation rate | 40.7% | 69.2%-28.4pp | 74.7%-34.0pp | 69.6%-28.8pp |
| Annual return | 9.23% | -1.55%+10.8pp | 3.46%+5.8pp | 7.63%+1.6pp |
| Employer contribution / active EE | $0 | $2,030-100.0% | $2,722-100.0% | $2,381-100.0% |
| Participant deferral / active EE | $1,783 | $2,547-30.0% | $3,402-47.6% | $3,470-48.6% |
| Admin fee / account holder | $647 | $3,007-78.5% | $3,591-82.0% | $4,887-86.8% |