Filed June 27, 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 | $42,701 | $215,361-80.2% | $171,082-75.0% | $273,972-84.4% |
| Participation rate | 60.0% | 82.0%-22.0pp | 76.7%-16.7pp | 83.0%-23.0pp |
| Annual return | 4.52% | 25.14%-20.6pp | 32.56%-28.0pp | 41.46%-36.9pp |
| Employer contribution / active EE | $424 | $4,967-91.5% | $4,002-89.4% | $4,869-91.3% |
| Participant deferral / active EE | $7,412 | $5,543+33.7% | $4,797+54.5% | $5,287+40.2% |
| Admin fee / account holder | $735 | $10,846-93.2% | $8,520-91.4% | $10,133-92.8% |