Filed October 15, 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 | $34,479 | $71,878-52.0% | $86,698-60.2% | $68,486-49.7% |
| Participation rate | 56.8% | 72.2%-15.4pp | 76.6%-19.7pp | 67.9%-11.1pp |
| Annual return | 0.00% | 3.53%-3.5pp | 35.95%-35.9pp | -7.85%+7.9pp |
| Employer contribution / active EE | $2,864 | $2,173+31.8% | $2,837+1.0% | $2,597+10.3% |
| Participant deferral / active EE | $5,427 | $3,779+43.6% | $4,656+16.6% | $4,028+34.8% |
| Admin fee / account holder | $588 | $6,113-90.4% | $7,493-92.1% | $5,404-89.1% |