Filed January 11, 2024
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Participant 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 | $60,604 | $138,393-56.2% | $184,256-67.1% | $80,959-25.1% |
| Participation rate | 69.2% | 83.9%-14.7pp | 86.8%-17.6pp | 67.7%+1.6pp |
| Annual return | 17.49% | 20.01%-2.5pp | 28.85%-11.4pp | 35.67%-18.2pp |
| Employer contribution / active EE | $2,617 | $4,847-46.0% | $6,427-59.3% | $2,757-5.1% |
| Participant deferral / active EE | $3,122 | $7,076-55.9% | $9,133-65.8% | $4,300-27.4% |
| Admin fee / account holder | $1,208 | $10,489-88.5% | $13,899-91.3% | $6,925-82.6% |