Filed March 6, 2024
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Participant 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 | $29,491 | $91,198-67.7% | $178,503-83.5% | $79,856-63.1% |
| Participation rate | 20.7% | 69.2%-48.5pp | 81.9%-61.2pp | 69.6%-49.0pp |
| Annual return | 9.11% | 24.20%-15.1pp | 151.12%-142.0pp | 31.71%-22.6pp |
| Employer contribution / active EE | $0 | $3,257-100.0% | $5,011-100.0% | $2,471-100.0% |
| Participant deferral / active EE | $506 | $3,237-84.4% | $5,202-90.3% | $3,741-86.5% |
| Admin fee / account holder | $5,389 | $6,748-20.1% | $13,987-61.5% | $5,306+1.6% |