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 | $74,235 | $93,598-20.7% | $135,974-45.4% | $75,173-1.2% |
| Participation rate | 64.9% | 75.2%-10.3pp | 81.9%-17.1pp | 67.2%-2.3pp |
| Annual return | 12.90% | 30.89%-18.0pp | 68.30%-55.4pp | 160.72%-147.8pp |
| Employer contribution / active EE | $6,079 | $3,538+71.8% | $4,859+25.1% | $2,671+127.6% |
| Participant deferral / active EE | $7,948 | $6,405+24.1% | $7,760+2.4% | $4,126+92.6% |
| Admin fee / account holder | $3,538 | $6,978-49.3% | $10,767-67.1% | $5,651-37.4% |