Filed January 8, 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 | $28,133 | $54,357-48.2% | $82,706-66.0% | $68,495-58.9% |
| Participation rate | 51.6% | 63.9%-12.3pp | 72.6%-20.9pp | 67.9%-16.3pp |
| Annual return | -14.57% | -13.67%-0.9pp | 701.76%-716.3pp | -7.84%-6.7pp |
| Employer contribution / active EE | $0 | $2,218-100.0% | $3,007-100.0% | $2,596-100.0% |
| Participant deferral / active EE | $3,250 | $3,246+0.1% | $4,394-26.0% | $4,028-19.3% |
| Admin fee / account holder | $2,959 | $4,396-32.7% | $5,329-44.5% | $5,403-45.2% |