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 | $55,336 | $56,339-1.8% | $104,301-46.9% | $68,486-19.2% |
| Participation rate | 34.8% | 63.3%-28.5pp | 73.3%-38.5pp | 67.9%-33.1pp |
| Annual return | -16.71% | -9.19%-7.5pp | 24.61%-41.3pp | -7.85%-8.9pp |
| Employer contribution / active EE | $0 | $1,960-100.0% | $3,373-100.0% | $2,597-100.0% |
| Participant deferral / active EE | $1,560 | $3,077-49.3% | $4,626-66.3% | $4,028-61.3% |
| Admin fee / account holder | $16,771 | $4,902+242.2% | $7,340+128.5% | $5,404+210.3% |