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 | $119,532 | $65,364+82.9% | $92,909+28.7% | $72,975+63.8% |
| Participation rate | 54.3% | 68.3%-14.0pp | 76.0%-21.7pp | 69.5%-15.2pp |
| Annual return | 25.38% | 42.11%-16.7pp | 109.44%-84.1pp | 81.01%-55.6pp |
| Employer contribution / active EE | $264 | $2,594-89.8% | $3,653-92.8% | $2,440-89.2% |
| Participant deferral / active EE | $3,250 | $3,128+3.9% | $4,238-23.3% | $3,608-9.9% |
| Admin fee / account holder | $7,828 | $4,251+84.1% | $5,795+35.1% | $5,124+52.8% |