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 | $59,715 | $81,457-26.7% | $103,378-42.2% | $80,911-26.2% |
| Participation rate | 59.5% | 66.8%-7.3pp | 74.5%-15.0pp | 67.6%-8.1pp |
| Annual return | 12.37% | 25.58%-13.2pp | 24.91%-12.5pp | 35.63%-23.3pp |
| Employer contribution / active EE | $211 | $3,107-93.2% | $3,870-94.5% | $2,756-92.3% |
| Participant deferral / active EE | $3,225 | $3,871-16.7% | $5,058-36.2% | $4,297-24.9% |
| Admin fee / account holder | $83,599 | $6,717+1144.7% | $8,401+895.1% | $6,935+1105.5% |