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.)
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $26,902 | $98,766-72.8% | $149,730-82.0% | $79,852-66.3% |
| Participation rate | 66.0% | 75.8%-9.7pp | 82.5%-16.4pp | 69.6%-3.6pp |
| Annual return | 14.01% | 27.43%-13.4pp | 276.70%-262.7pp | 31.72%-17.7pp |
| Employer contribution / active EE | $1,107 | $3,217-65.6% | $4,645-76.2% | $2,471-55.2% |
| Participant deferral / active EE | $1,702 | $5,681-70.0% | $6,843-75.1% | $3,740-54.5% |
| Admin fee / account holder | $750 | $6,052-87.6% | $9,310-91.9% | $5,306-85.9% |