Filed July 3, 2024 (most recent of 2 filings on file)
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer 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.)
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $16,372 | $39,132-58.2% | $57,196-71.4% | $62,881-74.0% |
| Participation rate | 65.2% | 70.5%-5.3pp | 75.3%-10.1pp | 69.3%-4.1pp |
| Annual return | 1.08% | 9.24%-8.2pp | 14.59%-13.5pp | 20.14%-19.1pp |
| Employer contribution / active EE | $239 | $1,874-87.3% | $2,683-91.1% | $2,281-89.5% |
| Participant deferral / active EE | $2,069 | $2,374-12.9% | $3,096-33.2% | $3,203-35.4% |
| Admin fee / account holder | $8,106 | $2,594+212.5% | $3,141+158.1% | $4,296+88.7% |