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 | $62,525 | $60,349+3.6% | $74,184-15.7% | $62,881-0.6% |
| Participation rate | 59.3% | 72.7%-13.5pp | 76.6%-17.4pp | 69.3%-10.0pp |
| Annual return | 9.91% | 21.38%-11.5pp | 17.74%-7.8pp | 20.14%-10.2pp |
| Employer contribution / active EE | $1,282 | $1,680-23.7% | $2,370-45.9% | $2,281-43.8% |
| Participant deferral / active EE | $2,439 | $2,856-14.6% | $3,550-31.3% | $3,203-23.8% |
| Admin fee / account holder | $10,938 | $4,261+156.7% | $5,586+95.8% | $4,296+154.6% |