Filed December 10, 2024
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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 | $45,105 | $86,938-48.1% | $102,423-56.0% | $80,925-44.3% |
| Participation rate | 57.6% | 72.4%-14.7pp | 76.5%-18.9pp | 67.7%-10.0pp |
| Annual return | 10.97% | 18.89%-7.9pp | 29.42%-18.5pp | 35.65%-24.7pp |
| Employer contribution / active EE | $537 | $2,369-77.3% | $3,023-82.2% | $2,756-80.5% |
| Participant deferral / active EE | $3,672 | $4,120-10.9% | $5,054-27.3% | $4,299-14.6% |
| Admin fee / account holder | $3,463 | $8,053-57.0% | $9,455-63.4% | $6,940-50.1% |