Filed March 6, 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.)
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $22,531 | $73,863-69.5% | $143,797-84.3% | $68,490-67.1% |
| Participation rate | 29.8% | 66.7%-36.8pp | 80.3%-50.5pp | 67.9%-38.1pp |
| Annual return | -14.53% | 0.91%-15.4pp | -0.04%-14.5pp | -7.85%-6.7pp |
| Employer contribution / active EE | $0 | $3,185-100.0% | $4,952-100.0% | $2,597-100.0% |
| Participant deferral / active EE | $949 | $3,385-72.0% | $5,638-83.2% | $4,028-76.4% |
| Admin fee / account holder | $1,022 | $5,756-82.2% | $14,679-93.0% | $5,403-81.1% |