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 | $115,286 | $72,269+59.5% | $101,271+13.8% | $79,852+44.4% |
| Participation rate | 54.5% | 68.5%-13.9pp | 75.8%-21.3pp | 69.6%-15.1pp |
| Annual return | 17.57% | 22.29%-4.7pp | 46.48%-28.9pp | 31.72%-14.1pp |
| Employer contribution / active EE | $207 | $2,692-92.3% | $3,660-94.3% | $2,471-91.6% |
| Participant deferral / active EE | $2,921 | $3,282-11.0% | $4,371-33.2% | $3,740-21.9% |
| Admin fee / account holder | $4,072 | $4,401-7.5% | $5,948-31.5% | $5,306-23.3% |