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.)
Annual investment return is in the bottom quintile of the peer cohort.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $75,960 | $89,652-15.3% | $141,191-46.2% | $65,185+16.5% |
| Participation rate | 57.9% | 74.7%-16.8pp | 82.5%-24.5pp | 70.2%-12.3pp |
| Annual return | 9.05% | 32.79%-23.7pp | 71.41%-62.4pp | 29.38%-20.3pp |
| Employer contribution / active EE | $12,418 | $3,065+305.2% | $4,736+162.2% | $2,177+470.5% |
| Participant deferral / active EE | $0 | $5,691-100.0% | $6,710-100.0% | $3,514-100.0% |
| Admin fee / account holder | $2,931 | $569+415.5% | $10,264-71.4% | $847+246.0% |