Filed June 4, 2024
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer contribution per participant is in the bottom quintile of the peer cohort.
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 | $95,858 | $56,894+68.5% | $84,753+13.1% | $62,881+52.4% |
| Participation rate | 46.3% | 68.5%-22.2pp | 76.6%-30.3pp | 69.3%-23.0pp |
| Annual return | 9.06% | 6.30%+2.8pp | 22.78%-13.7pp | 20.14%-11.1pp |
| Employer contribution / active EE | $206 | $2,400-91.4% | $3,574-94.2% | $2,281-91.0% |
| Participant deferral / active EE | $2,579 | $2,709-4.8% | $3,712-30.5% | $3,203-19.5% |
| Admin fee / account holder | $1,200 | $3,581-66.5% | $5,333-77.5% | $4,296-72.1% |