Filed January 19, 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 | $59,026 | $65,084-9.3% | $67,681-12.8% | $64,340-8.3% |
| Participation rate | 45.8% | 66.7%-20.9pp | 73.7%-27.9pp | 55.2%-9.5pp |
| Annual return | 13.43% | 20.50%-7.1pp | 590.58%-577.1pp | 24.14%-10.7pp |
| Employer contribution / active EE | $971 | $2,398-59.5% | $2,678-63.7% | $1,862-47.8% |
| Participant deferral / active EE | $3,419 | $3,210+6.5% | $3,976-14.0% | $2,980+14.7% |
| Admin fee / account holder | $2,533 | $1,415+79.0% | $6,100-58.5% | $3,703-31.6% |