Filed March 20, 2024
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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 | $42,663 | $50,643-15.8% | $106,619-60.0% | $55,167-22.7% |
| Participation rate | 61.6% | 65.6%-3.9pp | 78.0%-16.4pp | 69.0%-7.4pp |
| Annual return | 9.03% | 7.02%+2.0pp | 9.42%-0.4pp | 169.23%-160.2pp |
| Employer contribution / active EE | $255 | $1,626-84.3% | $3,947-93.5% | $1,963-87.0% |
| Participant deferral / active EE | $1,975 | $2,208-10.6% | $3,930-49.8% | $3,054-35.4% |
| Admin fee / account holder | $6,886 | $488+1311.4% | $6,418+7.3% | $504+1266.5% |