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 | $95,620 | $67,411+41.8% | $91,004+5.1% | $70,126+36.4% |
| Participation rate | 57.5% | 71.4%-13.9pp | 75.6%-18.1pp | 69.5%-12.0pp |
| Annual return | 16.15% | -40.16%+56.3pp | 4.60%+11.5pp | 73.15%-57.0pp |
| Employer contribution / active EE | $251 | $1,786-85.9% | $2,456-89.8% | $2,343-89.3% |
| Participant deferral / active EE | $1,717 | $2,823-39.2% | $3,548-51.6% | $3,332-48.5% |
| Admin fee / account holder | $1,676 | $4,236-60.4% | $5,417-69.1% | $4,645-63.9% |