Filed August 19, 2024
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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 | $53,531 | $56,197-4.7% | $67,652-20.9% | $59,633-10.2% |
| Participation rate | 62.1% | 71.5%-9.4pp | 75.7%-13.6pp | 68.7%-6.6pp |
| Annual return | 1.03% | 18508.10%-18507.1pp | 6625.40%-6624.4pp | 2041.45%-2040.4pp |
| Employer contribution / active EE | $1,463 | $1,615-9.4% | $2,266-35.4% | $2,203-33.6% |
| Participant deferral / active EE | $2,384 | $2,844-16.2% | $3,560-33.0% | $3,192-25.3% |
| Admin fee / account holder | $42,543 | $3,958+974.9% | $4,821+782.5% | $4,297+890.1% |