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 | $47,479-68.9% | $62,929-76.5% | $82,448-82.1% |
| Participation rate | 21.9% | 66.9%-45.0pp | 73.1%-51.2pp | 68.1%-46.2pp |
| Annual return | 7.72% | 20.34%-12.6pp | 1063.93%-1056.2pp | 41.64%-33.9pp |
| Employer contribution / active EE | $485 | $1,885-74.3% | $2,505-80.6% | $2,551-81.0% |
| Participant deferral / active EE | $781 | $2,870-72.8% | $3,888-79.9% | $4,139-81.1% |
| Admin fee / account holder | $768 | $3,804-79.8% | $5,065-84.8% | $7,234-89.4% |