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.)
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $75,039 | $73,009+2.8% | $90,756-17.3% | $68,495+9.6% |
| Participation rate | 55.6% | 70.8%-15.3pp | 75.7%-20.1pp | 67.9%-12.3pp |
| Annual return | -17.41% | -13.81%-3.6pp | -12.16%-5.3pp | -7.84%-9.6pp |
| Employer contribution / active EE | $1,429 | $2,193-34.8% | $2,922-51.1% | $2,596-45.0% |
| Participant deferral / active EE | $2,505 | $3,626-30.9% | $4,565-45.1% | $4,028-37.8% |
| Admin fee / account holder | $1,044 | $5,896-82.3% | $8,445-87.6% | $5,403-80.7% |