Filed January 8, 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.)
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $47,512 | $72,177-34.2% | $115,038-58.7% | $59,633-20.3% |
| Participation rate | 62.0% | 72.6%-10.6pp | 81.4%-19.4pp | 68.7%-6.7pp |
| Annual return | -1.60% | 12.02%-13.6pp | 26.14%-27.7pp | 2041.45%-2043.0pp |
| Employer contribution / active EE | $1,063 | $2,841-62.6% | $4,608-76.9% | $2,203-51.7% |
| Participant deferral / active EE | $3,152 | $4,783-34.1% | $6,026-47.7% | $3,192-1.2% |
| Admin fee / account holder | $4,924 | $4,927-0.1% | $8,175-39.8% | $4,297+14.6% |