Filed December 6, 2023 (most recent of 2 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 | $71,254 | $64,890+9.8% | $134,172-46.9% | $67,986+4.8% |
| Participation rate | 17.1% | 48.5%-31.5pp | 72.5%-55.4pp | 57.2%-40.1pp |
| Annual return | 13.46% | 16.12%-2.7pp | 25.30%-11.8pp | 31.67%-18.2pp |
| Employer contribution / active EE | $0 | $1,360-100.0% | $3,420-100.0% | $2,019-100.0% |
| Participant deferral / active EE | $844 | $2,289-63.1% | $4,690-82.0% | $3,358-74.9% |
| Admin fee / account holder | $9,845 | $3,140+213.5% | $12,016-18.1% | $3,203+207.3% |