Filed July 12, 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.)
Annual investment return is in the bottom quintile of the peer cohort.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $66,684 | $58,828+13.4% | $78,002-14.5% | $62,881+6.0% |
| Participation rate | 56.5% | 71.1%-14.5pp | 75.5%-19.0pp | 69.3%-12.8pp |
| Annual return | 4.77% | 17.16%-12.4pp | 425.99%-421.2pp | 20.14%-15.4pp |
| Employer contribution / active EE | $1,109 | $1,672-33.7% | $2,470-55.1% | $2,281-51.4% |
| Participant deferral / active EE | $2,058 | $2,686-23.4% | $3,497-41.1% | $3,203-35.7% |
| Admin fee / account holder | $4,050 | $4,393-7.8% | $5,481-26.1% | $4,296-5.7% |