Filed August 9, 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.)
Annual investment return is in the bottom quintile of the peer cohort.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $89,661 | $106,524-15.8% | $152,301-41.1% | $87,485+2.5% |
| Participation rate | 67.6% | 75.8%-8.1pp | 82.4%-14.8pp | 68.9%-1.3pp |
| Annual return | 12.41% | 26.89%-14.5pp | 80.50%-68.1pp | 26.06%-13.6pp |
| Employer contribution / active EE | $6,592 | $3,371+95.5% | $4,624+42.6% | $2,596+153.9% |
| Participant deferral / active EE | $7,502 | $6,525+15.0% | $8,004-6.3% | $4,274+75.6% |
| Admin fee / account holder | $18,468 | $8,287+122.9% | $14,398+28.3% | $7,775+137.5% |