Filed July 11, 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.)
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $79,130 | $73,102+8.2% | $123,552-36.0% | $56,287+40.6% |
| Participation rate | 55.0% | 74.3%-19.4pp | 82.3%-27.3pp | 69.9%-14.9pp |
| Annual return | 0.00% | 3.01%-3.0pp | 119.20%-119.2pp | -9.96%+10.0pp |
| Employer contribution / active EE | $9,905 | $2,977+232.7% | $4,628+114.0% | $2,111+369.2% |
| Participant deferral / active EE | $0 | $5,423-100.0% | $6,426-100.0% | $3,350-100.0% |
| Admin fee / account holder | $504 | $554-9.0% | $9,285-94.6% | $521-3.3% |