Filed January 23, 2024
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Participant 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.)
Annual investment return is in the bottom quintile of the peer cohort.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $14,782 | $50,554-70.8% | $67,681-78.2% | $87,485-83.1% |
| Participation rate | 21.9% | 67.7%-45.8pp | 73.7%-51.9pp | 68.9%-47.1pp |
| Annual return | 7.72% | 17.81%-10.1pp | 590.58%-582.9pp | 26.06%-18.3pp |
| Employer contribution / active EE | $485 | $1,988-75.6% | $2,678-81.9% | $2,596-81.3% |
| Participant deferral / active EE | $781 | $2,961-73.6% | $3,976-80.4% | $4,274-81.7% |
| Admin fee / account holder | $768 | $4,132-81.4% | $6,100-87.4% | $7,775-90.1% |