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 | $99,875-74.8% | $146,866-82.9% | $86,983-71.1% |
| Participation rate | 54.1% | 75.8%-21.7pp | 82.5%-28.4pp | 69.5%-15.4pp |
| Annual return | 16.88% | 28.10%-11.2pp | 102.85%-86.0pp | 25.83%-8.9pp |
| Employer contribution / active EE | $1,383 | $3,224-57.1% | $4,425-68.7% | $2,584-46.5% |
| Participant deferral / active EE | $2,619 | $6,322-58.6% | $7,759-66.3% | $4,194-37.6% |
| Admin fee / account holder | $1,815 | $7,838-76.8% | $13,620-86.7% | $7,856-76.9% |