Filed September 9, 2024
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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 | $33,625 | $60,349-44.3% | $74,184-54.7% | $62,881-46.5% |
| Participation rate | 65.9% | 72.7%-6.8pp | 76.6%-10.7pp | 69.3%-3.4pp |
| Annual return | 7.19% | 21.38%-14.2pp | 17.74%-10.6pp | 20.14%-13.0pp |
| Employer contribution / active EE | $1,694 | $1,680+0.8% | $2,370-28.5% | $2,281-25.7% |
| Participant deferral / active EE | $3,649 | $2,856+27.7% | $3,550+2.8% | $3,203+13.9% |
| Admin fee / account holder | $15,811 | $4,261+271.1% | $5,586+183.1% | $4,296+268.1% |