Filed April 9, 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.)
Annual investment return is in the bottom quintile of the peer cohort.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $71,370 | $89,259-20.0% | $107,187-33.4% | $82,637-13.6% |
| Participation rate | 56.7% | 67.9%-11.3pp | 75.0%-18.4pp | 68.1%-11.4pp |
| Annual return | 12.09% | 21.02%-8.9pp | 204.55%-192.5pp | 53.51%-41.4pp |
| Employer contribution / active EE | $2,058 | $3,080-33.2% | $3,782-45.6% | $2,552-19.4% |
| Participant deferral / active EE | $5,055 | $4,037+25.2% | $5,096-0.8% | $4,126+22.5% |
| Admin fee / account holder | $6,121 | $7,381-17.1% | $9,162-33.2% | $7,339-16.6% |