Filed November 14, 2023
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Annual investment return is in the bottom quintile of the peer cohort.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $36,507 | $52,836-30.9% | $105,738-65.5% | $64,173-43.1% |
| Participation rate | 53.1% | 66.5%-13.5pp | 76.3%-23.3pp | 69.6%-16.5pp |
| Annual return | -8.79% | 14.30%-23.1pp | 6.27%-15.1pp | 7.63%-16.4pp |
| Employer contribution / active EE | $2,735 | $1,827+49.7% | $3,268-16.3% | $2,381+14.9% |
| Participant deferral / active EE | $5,536 | $2,545+117.5% | $4,080+35.7% | $3,470+59.6% |
| Admin fee / account holder | $2,718 | $3,959-31.3% | $6,913-60.7% | $4,887-44.4% |