Filed March 6, 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 | $29,550 | $77,908-62.1% | $149,696-80.3% | $75,173-60.7% |
| Participation rate | 43.5% | 65.6%-22.1pp | 78.8%-35.3pp | 67.2%-23.7pp |
| Annual return | 16.29% | 31.73%-15.4pp | 134.46%-118.2pp | 160.72%-144.4pp |
| Employer contribution / active EE | $0 | $3,138-100.0% | $4,821-100.0% | $2,671-100.0% |
| Participant deferral / active EE | $1,060 | $3,411-68.9% | $5,682-81.3% | $4,126-74.3% |
| Admin fee / account holder | $430 | $5,950-92.8% | $13,212-96.7% | $5,651-92.4% |