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 | $17,105 | $53,546-68.1% | $69,890-75.5% | $68,490-75.0% |
| Participation rate | 60.6% | 64.5%-3.9pp | 70.5%-9.9pp | 67.9%-7.3pp |
| Annual return | -17.96% | -13.87%-4.1pp | 190.84%-208.8pp | -7.85%-10.1pp |
| Employer contribution / active EE | $637 | $2,019-68.5% | $2,560-75.1% | $2,597-75.5% |
| Participant deferral / active EE | $1,652 | $2,957-44.1% | $3,848-57.1% | $4,028-59.0% |
| Admin fee / account holder | $364 | $4,693-92.3% | $6,267-94.2% | $5,403-93.3% |