Filed May 15, 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 | $25,172 | $106,864-76.4% | $147,318-82.9% | $82,637-69.5% |
| Participation rate | 54.1% | 75.5%-21.4pp | 82.1%-28.0pp | 68.1%-14.0pp |
| Annual return | 16.88% | 27.49%-10.6pp | 70.43%-53.5pp | 53.51%-36.6pp |
| Employer contribution / active EE | $1,383 | $3,417-59.5% | $4,593-69.9% | $2,552-45.8% |
| Participant deferral / active EE | $2,619 | $6,496-59.7% | $7,906-66.9% | $4,126-36.5% |
| Admin fee / account holder | $1,815 | $8,415-78.4% | $13,708-86.8% | $7,339-75.3% |