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 | $86,842 | $68,398+27.0% | $94,664-8.3% | $75,173+15.5% |
| Participation rate | 48.9% | 76.1%-27.2pp | 80.8%-31.9pp | 67.2%-18.3pp |
| Annual return | 17.51% | 616.72%-599.2pp | 156.84%-139.3pp | 160.72%-143.2pp |
| Employer contribution / active EE | $235 | $2,701-91.3% | $3,673-93.6% | $2,671-91.2% |
| Participant deferral / active EE | $5,760 | $6,537-11.9% | $7,417-22.3% | $4,126+39.6% |
| Admin fee / account holder | $2,304 | $5,324-56.7% | $7,222-68.1% | $5,651-59.2% |