Filed March 12, 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 | $120,590 | $88,672+36.0% | $105,223+14.6% | $82,448+46.3% |
| Participation rate | 18.9% | 67.9%-49.1pp | 75.0%-56.2pp | 68.1%-49.2pp |
| Annual return | 19.60% | 30.86%-11.3pp | 180.65%-161.1pp | 41.64%-22.0pp |
| Employer contribution / active EE | $1,676 | $3,048-45.0% | $3,689-54.6% | $2,551-34.3% |
| Participant deferral / active EE | $1,150 | $4,036-71.5% | $5,072-77.3% | $4,139-72.2% |
| Admin fee / account holder | $2,275 | $7,146-68.2% | $8,859-74.3% | $7,234-68.6% |