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 | $42,495 | $50,643-16.1% | $106,619-60.1% | $55,167-23.0% |
| Participation rate | 47.6% | 65.6%-18.0pp | 78.0%-30.4pp | 69.0%-21.4pp |
| Annual return | 10.32% | 7.02%+3.3pp | 9.42%+0.9pp | 169.23%-158.9pp |
| Employer contribution / active EE | $0 | $1,626-100.0% | $3,947-100.0% | $1,963-100.0% |
| Participant deferral / active EE | $1,396 | $2,208-36.8% | $3,930-64.5% | $3,054-54.3% |
| Admin fee / account holder | $1,086 | $488+122.6% | $6,418-83.1% | $504+115.5% |