Filed July 22, 2024
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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 | $96,927 | $81,870+18.4% | $119,608-19.0% | $68,495+41.5% |
| Participation rate | 48.5% | 71.9%-23.4pp | 79.3%-30.8pp | 67.9%-19.4pp |
| Annual return | -17.71% | -23.82%+6.1pp | -14.98%-2.7pp | -7.84%-9.9pp |
| Employer contribution / active EE | $1,468 | $2,692-45.5% | $4,232-65.3% | $2,596-43.5% |
| Participant deferral / active EE | $3,421 | $4,148-17.5% | $5,601-38.9% | $4,028-15.1% |
| Admin fee / account holder | $3,954 | $6,583-39.9% | $10,326-61.7% | $5,403-26.8% |