Filed March 22, 2024
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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.
Retirees and beneficiaries make up 25% or more of total participants - indicates an ageing workforce or a frozen plan.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $62,516 | $72,114-13.3% | $108,745-42.5% | $62,881-0.6% |
| Participation rate | 97.4% | 74.6%+22.8pp | 77.7%+19.8pp | 69.3%+28.1pp |
| Annual return | 4.17% | 13.41%-9.2pp | 46.22%-42.1pp | 20.14%-16.0pp |
| Employer contribution / active EE | $3,448 | $2,694+28.0% | $3,323+3.8% | $2,281+51.2% |
| Participant deferral / active EE | $1,477 | $4,044-63.5% | $5,121-71.2% | $3,203-53.9% |
| Admin fee / account holder | $7,288 | $4,608+58.2% | $6,144+18.6% | $4,296+69.6% |