Filed July 22, 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 | $61,931 | $62,177-0.4% | $81,370-23.9% | $74,478-16.8% |
| Participation rate | 62.4% | 64.1%-1.7pp | 69.5%-7.1pp | 67.2%-4.8pp |
| Annual return | 21.63% | 16.62%+5.0pp | 24.85%-3.2pp | 1370.56%-1348.9pp |
| Employer contribution / active EE | $2,329 | $1,881+23.8% | $2,464-5.5% | $2,626-11.3% |
| Participant deferral / active EE | $4,312 | $3,219+33.9% | $3,885+11.0% | $4,350-0.9% |
| Admin fee / account holder | $10,392 | $1,927+439.4% | $5,749+80.8% | $1,946+434.1% |