Filed August 26, 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 | $27,210 | $64,517-57.8% | $81,438-66.6% | $80,874-66.4% |
| Participation rate | 50.0% | 63.9%-13.9pp | 69.5%-19.5pp | 67.6%-17.6pp |
| Annual return | 12.42% | 16.35%-3.9pp | 24.74%-12.3pp | 35.62%-23.2pp |
| Employer contribution / active EE | $568 | $1,982-71.4% | $2,460-76.9% | $2,756-79.4% |
| Participant deferral / active EE | $1,377 | $3,096-55.5% | $3,883-64.5% | $4,297-68.0% |
| Admin fee / account holder | $1,827 | $5,677-67.8% | $5,764-68.3% | $6,935-73.7% |