Filed December 22, 2023
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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 | $40,741 | $52,967-23.1% | $172,753-76.4% | $65,186-37.5% |
| Participation rate | 57.4% | 66.2%-8.8pp | 82.6%-25.2pp | 70.2%-12.8pp |
| Annual return | 16.78% | 30.12%-13.3pp | 803.00%-786.2pp | 29.39%-12.6pp |
| Employer contribution / active EE | $1,935 | $2,190-11.6% | $5,144-62.4% | $2,177-11.1% |
| Participant deferral / active EE | $3,141 | $2,471+27.1% | $5,198-39.6% | $3,514-10.6% |
| Admin fee / account holder | $3,801 | $472+705.2% | $13,956-72.8% | $847+348.6% |