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 | $63,773-57.3% | $81,286-66.5% | $80,925-66.4% |
| Participation rate | 50.0% | 63.9%-13.9pp | 69.5%-19.5pp | 67.7%-17.7pp |
| Annual return | 12.42% | 16.37%-3.9pp | 24.80%-12.4pp | 35.65%-23.2pp |
| Employer contribution / active EE | $568 | $1,979-71.3% | $2,463-76.9% | $2,756-79.4% |
| Participant deferral / active EE | $1,377 | $3,093-55.5% | $3,883-64.5% | $4,299-68.0% |
| Admin fee / account holder | $1,827 | $5,682-67.9% | $5,764-68.3% | $6,940-73.7% |