Filed December 18, 2023 (most recent of 2 filings on file)
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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 | $104,487 | $140,592-25.7% | $123,105-15.1% | $125,389-16.7% |
| Participation rate | 55.0% | 88.2%-33.2pp | 86.8%-31.8pp | 83.2%-28.2pp |
| Annual return | -0.17% | 16.80%-17.0pp | 13.22%-13.4pp | 282.24%-282.4pp |
| Employer contribution / active EE | $601 | $6,041-90.0% | $5,151-88.3% | $4,866-87.6% |
| Participant deferral / active EE | $3,220 | $6,980-53.9% | $6,229-48.3% | $5,352-39.8% |
| Admin fee / account holder | $3,476 | $11,198-69.0% | $9,014-61.4% | $9,541-63.6% |