Filed May 15, 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 | $78,349 | $58,828+33.2% | $78,002+0.4% | $62,881+24.6% |
| Participation rate | 63.9% | 71.1%-7.2pp | 75.5%-11.6pp | 69.3%-5.4pp |
| Annual return | 4.94% | 17.16%-12.2pp | 425.99%-421.1pp | 20.14%-15.2pp |
| Employer contribution / active EE | $277 | $1,672-83.4% | $2,470-88.8% | $2,281-87.9% |
| Participant deferral / active EE | $1,981 | $2,686-26.2% | $3,497-43.4% | $3,203-38.2% |
| Admin fee / account holder | $31,704 | $4,393+621.7% | $5,481+478.5% | $4,296+638.0% |