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 | $104,807 | $63,346+65.5% | $92,240+13.6% | $70,126+49.5% |
| Participation rate | 58.1% | 68.7%-10.6pp | 76.5%-18.4pp | 69.5%-11.5pp |
| Annual return | 18.20% | 530.19%-512.0pp | 176.29%-158.1pp | 73.15%-54.9pp |
| Employer contribution / active EE | $262 | $2,471-89.4% | $3,680-92.9% | $2,343-88.8% |
| Participant deferral / active EE | $3,234 | $2,854+13.3% | $3,897-17.0% | $3,332-2.9% |
| Admin fee / account holder | $14,527 | $3,841+278.2% | $5,194+179.7% | $4,645+212.7% |