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.)
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $88,136 | $41,377+113.0% | $109,313-19.4% | $62,881+40.2% |
| Participation rate | 63.8% | 57.5%+6.3pp | 71.3%-7.4pp | 69.3%-5.5pp |
| Annual return | 6.13% | 11.05%-4.9pp | 22.07%-15.9pp | 20.14%-14.0pp |
| Employer contribution / active EE | $0 | $1,276-100.0% | $3,892-100.0% | $2,281-100.0% |
| Participant deferral / active EE | $2,860 | $2,045+39.8% | $3,166-9.7% | $3,203-10.7% |
| Admin fee / account holder | $3,049 | $2,884+5.7% | $5,666-46.2% | $4,296-29.0% |