Filed February 12, 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.)
Annual investment return is in the bottom quintile of the peer cohort.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $90,245 | $51,736+74.4% | $120,225-24.9% | $67,986+32.7% |
| Participation rate | 16.7% | 46.1%-29.4pp | 69.6%-52.9pp | 57.2%-40.5pp |
| Annual return | 7.44% | 31.98%-24.5pp | 439.23%-431.8pp | 31.67%-24.2pp |
| Employer contribution / active EE | $0 | $1,071-100.0% | $3,475-100.0% | $2,019-100.0% |
| Participant deferral / active EE | $1,001 | $2,206-54.6% | $3,999-75.0% | $3,358-70.2% |
| Admin fee / account holder | $13,086 | $4,159+214.6% | $5,696+129.7% | $3,203+308.5% |