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 | $107,465 | $73,955+45.3% | $96,520+11.3% | $75,181+42.9% |
| Participation rate | 42.9% | 66.4%-23.6pp | 74.3%-31.5pp | 67.2%-24.3pp |
| Annual return | 16.16% | 26.72%-10.6pp | 35.72%-19.6pp | 160.69%-144.5pp |
| Employer contribution / active EE | $165 | $2,930-94.4% | $3,739-95.6% | $2,671-93.8% |
| Participant deferral / active EE | $2,580 | $3,659-29.5% | $4,879-47.1% | $4,126-37.5% |
| Admin fee / account holder | $3,468 | $5,217-33.5% | $6,733-48.5% | $5,650-38.6% |