Filed January 23, 2024
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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 | $12,554 | $48,314-74.0% | $67,561-81.4% | $80,925-84.5% |
| Participation rate | 22.7% | 66.4%-43.7pp | 72.9%-50.2pp | 67.7%-44.9pp |
| Annual return | 9.71% | 18.28%-8.6pp | 3525.44%-3515.7pp | 35.65%-25.9pp |
| Employer contribution / active EE | $625 | $2,022-69.1% | $2,735-77.2% | $2,756-77.3% |
| Participant deferral / active EE | $786 | $2,927-73.1% | $4,003-80.4% | $4,299-81.7% |
| Admin fee / account holder | $694 | $3,690-81.2% | $4,006-82.7% | $6,940-90.0% |