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 | $45,640 | $57,828-21.1% | $117,039-61.0% | $70,126-34.9% |
| Participation rate | 48.5% | 67.1%-18.7pp | 77.2%-28.7pp | 69.5%-21.1pp |
| Annual return | 13.67% | 17.55%-3.9pp | 18.95%-5.3pp | 73.15%-59.5pp |
| Employer contribution / active EE | $0 | $1,816-100.0% | $3,785-100.0% | $2,343-100.0% |
| Participant deferral / active EE | $1,542 | $2,438-36.7% | $3,929-60.7% | $3,332-53.7% |
| Admin fee / account holder | $5,992 | $3,548+68.9% | $5,974+0.3% | $4,645+29.0% |