Filed March 12, 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 | $90,785 | $81,476+11.4% | $102,383-11.3% | $80,925+12.2% |
| Participation rate | 19.6% | 66.8%-47.2pp | 74.5%-54.9pp | 67.7%-48.0pp |
| Annual return | 28.15% | 25.59%+2.6pp | 24.94%+3.2pp | 35.65%-7.5pp |
| Employer contribution / active EE | $642 | $3,105-79.3% | $3,870-83.4% | $2,756-76.7% |
| Participant deferral / active EE | $2,601 | $3,871-32.8% | $5,060-48.6% | $4,299-39.5% |
| Admin fee / account holder | $3,153 | $6,717-53.1% | $8,391-62.4% | $6,940-54.6% |