Filed January 29, 2024
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer 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 | $70,562 | $63,365+11.4% | $91,994-23.3% | $72,976-3.3% |
| Participation rate | 69.0% | 72.5%-3.5pp | 78.6%-9.7pp | 69.5%-0.5pp |
| Annual return | 22.35% | 35.35%-13.0pp | 69.04%-46.7pp | 81.02%-58.7pp |
| Employer contribution / active EE | $140 | $2,116-93.4% | $3,453-95.9% | $2,440-94.2% |
| Participant deferral / active EE | $2,806 | $4,883-42.5% | $5,924-52.6% | $3,608-22.2% |
| Admin fee / account holder | $3,654 | $4,670-21.7% | $7,744-52.8% | $5,124-28.7% |