Filed September 19, 2024
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer 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 | $77,269 | $60,349+28.0% | $74,184+4.2% | $62,881+22.9% |
| Participation rate | 46.9% | 72.7%-25.9pp | 76.6%-29.7pp | 69.3%-22.4pp |
| Annual return | 7.24% | 21.38%-14.1pp | 17.74%-10.5pp | 20.14%-12.9pp |
| Employer contribution / active EE | $0 | $1,680-100.0% | $2,370-100.0% | $2,281-100.0% |
| Participant deferral / active EE | $1,554 | $2,856-45.6% | $3,550-56.2% | $3,203-51.5% |
| Admin fee / account holder | $2,082 | $4,261-51.1% | $5,586-62.7% | $4,296-51.5% |