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 | $67,418 | $67,602-0.3% | $82,312-18.1% | $70,126-3.9% |
| Participation rate | 64.5% | 72.8%-8.3pp | 76.9%-12.4pp | 69.5%-5.0pp |
| Annual return | 14.28% | 21.57%-7.3pp | 25.88%-11.6pp | 73.15%-58.9pp |
| Employer contribution / active EE | $1,277 | $1,755-27.2% | $2,428-47.4% | $2,343-45.5% |
| Participant deferral / active EE | $2,897 | $2,987-3.0% | $3,706-21.8% | $3,332-13.0% |
| Admin fee / account holder | $3,503 | $4,512-22.4% | $5,608-37.5% | $4,645-24.6% |