Filed June 10, 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 | $51,282 | $47,944+7.0% | $67,834-24.4% | $62,881-18.4% |
| Participation rate | 39.7% | 61.1%-21.3pp | 68.8%-29.1pp | 69.3%-29.6pp |
| Annual return | 6.49% | 11.77%-5.3pp | 138.47%-132.0pp | 20.14%-13.7pp |
| Employer contribution / active EE | $290 | $1,562-81.5% | $2,403-87.9% | $2,281-87.3% |
| Participant deferral / active EE | $1,385 | $2,247-38.4% | $3,160-56.2% | $3,203-56.8% |
| Admin fee / account holder | $9,900 | $3,712+166.7% | $4,622+114.2% | $4,296+130.5% |