Filed October 3, 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.)
Annual investment return is in the bottom quintile of the peer cohort.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $23,047 | $89,367-74.2% | $141,191-83.7% | $72,975-68.4% |
| Participation rate | 65.0% | 75.1%-10.1pp | 82.5%-17.5pp | 69.5%-4.5pp |
| Annual return | 17.34% | 111.87%-94.5pp | 71.41%-54.1pp | 81.01%-63.7pp |
| Employer contribution / active EE | $906 | $3,115-70.9% | $4,736-80.9% | $2,440-62.9% |
| Participant deferral / active EE | $1,327 | $5,419-75.5% | $6,710-80.2% | $3,608-63.2% |
| Admin fee / account holder | $1,259 | $5,957-78.9% | $10,264-87.7% | $5,124-75.4% |