Filed February 19, 2024 (most recent of 3 filings on file)
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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 | $18,895 | $56,054-66.3% | $171,082-89.0% | $62,881-70.0% |
| Participation rate | 50.9% | 62.9%-12.0pp | 76.7%-25.8pp | 69.3%-18.4pp |
| Annual return | 8.98% | 22.52%-13.5pp | 32.56%-23.6pp | 20.14%-11.2pp |
| Employer contribution / active EE | $173 | $1,731-90.0% | $4,002-95.7% | $2,281-92.4% |
| Participant deferral / active EE | $1,928 | $3,158-38.9% | $4,797-59.8% | $3,203-39.8% |
| Admin fee / account holder | $1,985 | $3,647-45.6% | $8,520-76.7% | $4,296-53.8% |