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 | $43,496-37.6% | $161,489-83.2% | $64,340-57.8% |
| Participation rate | 20.6% | 53.5%-32.9pp | 78.7%-58.1pp | 55.2%-34.6pp |
| Annual return | 13.89% | 20.76%-6.9pp | 89.72%-75.8pp | 24.14%-10.3pp |
| Employer contribution / active EE | $471 | $1,431-67.1% | $4,268-89.0% | $1,862-74.7% |
| Participant deferral / active EE | $608 | $1,996-69.5% | $5,630-89.2% | $2,980-79.6% |
| Admin fee / account holder | $1,822 | $2,330-21.8% | $16,006-88.6% | $3,703-50.8% |