Filed October 30, 2024
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Participant 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 | $42,316 | $77,962-45.7% | $178,540-76.3% | $80,935-47.7% |
| Participation rate | 34.1% | 65.7%-31.5pp | 77.1%-43.0pp | 67.7%-33.5pp |
| Annual return | 14.99% | 18.10%-3.1pp | 27.15%-12.2pp | 35.66%-20.7pp |
| Employer contribution / active EE | $0 | $2,280-100.0% | $3,953-100.0% | $2,757-100.0% |
| Participant deferral / active EE | $1,359 | $4,404-69.1% | $6,281-78.4% | $4,299-68.4% |
| Admin fee / account holder | $9,948 | $7,156+39.0% | $10,424-4.6% | $6,924+43.7% |