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 | $106,749-76.4% | $145,433-82.7% | $82,448-69.5% |
| Participation rate | 54.1% | 75.6%-21.6pp | 82.1%-28.0pp | 68.1%-14.0pp |
| Annual return | 16.88% | 27.59%-10.7pp | 66.58%-49.7pp | 41.64%-24.8pp |
| Employer contribution / active EE | $1,383 | $3,444-59.8% | $4,554-69.6% | $2,551-45.8% |
| Participant deferral / active EE | $2,619 | $6,519-59.8% | $7,897-66.8% | $4,139-36.7% |
| Admin fee / account holder | $1,815 | $8,390-78.4% | $13,129-86.2% | $7,234-74.9% |