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 | $54,978 | $59,328-7.3% | $118,914-53.8% | $73,497-25.2% |
| Participation rate | 40.6% | 62.3%-21.7pp | 75.4%-34.8pp | 70.7%-30.1pp |
| Annual return | 12.30% | 19.13%-6.8pp | 35.89%-23.6pp | 28.51%-16.2pp |
| Employer contribution / active EE | $0 | $1,803-100.0% | $3,264-100.0% | $2,270-100.0% |
| Participant deferral / active EE | $1,458 | $2,604-44.0% | $4,266-65.8% | $3,740-61.0% |
| Admin fee / account holder | $4,022 | $600+570.0% | $6,582-38.9% | $513+683.9% |