Filed December 21, 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.
Participant 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 | $27,133 | $46,688-41.9% | $189,758-85.7% | $69,733-61.1% |
| Participation rate | 20.6% | 61.7%-41.1pp | 79.8%-59.2pp | 62.5%-41.8pp |
| Annual return | 13.89% | 14.35%-0.5pp | 52.62%-38.7pp | 15.22%-1.3pp |
| Employer contribution / active EE | $471 | $1,695-72.2% | $4,767-90.1% | $2,250-79.1% |
| Participant deferral / active EE | $608 | $2,143-71.6% | $5,856-89.6% | $3,054-80.1% |
| Admin fee / account holder | $1,822 | $1,700+7.1% | $20,388-91.1% | $3,102-41.3% |