Filed November 20, 2023 (most recent of 2 filings on file)
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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 | $80,597 | $76,371+5.5% | $93,621-13.9% | $72,975+10.4% |
| Participation rate | 61.8% | 71.8%-10.0pp | 75.8%-14.1pp | 69.5%-7.7pp |
| Annual return | 20.11% | 25.82%-5.7pp | 32.76%-12.6pp | 81.01%-60.9pp |
| Employer contribution / active EE | $96 | $2,276-95.8% | $2,719-96.5% | $2,440-96.1% |
| Participant deferral / active EE | $4,358 | $3,538+23.2% | $4,070+7.1% | $3,608+20.8% |
| Admin fee / account holder | $17,616 | $6,839+157.6% | $7,890+123.3% | $5,124+243.8% |