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 | $56,982 | $52,580+8.4% | $71,671-20.5% | $70,126-18.7% |
| Participation rate | 44.0% | 60.9%-16.9pp | 68.7%-24.7pp | 69.5%-25.5pp |
| Annual return | 14.85% | 20.25%-5.4pp | 20.65%-5.8pp | 73.15%-58.3pp |
| Employer contribution / active EE | $323 | $1,616-80.0% | $2,460-86.9% | $2,343-86.2% |
| Participant deferral / active EE | $1,732 | $2,386-27.4% | $3,438-49.6% | $3,332-48.0% |
| Admin fee / account holder | $1,399 | $3,653-61.7% | $5,558-74.8% | $4,645-69.9% |