Filed February 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.)
Annual investment return is in the bottom quintile of the peer cohort.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $77,570 | $142,972-45.7% | $214,702-63.9% | $86,983-10.8% |
| Participation rate | 66.7% | 84.9%-18.2pp | 87.5%-20.8pp | 69.5%-2.9pp |
| Annual return | 5.25% | 18.49%-13.2pp | 54.55%-49.3pp | 25.83%-20.6pp |
| Employer contribution / active EE | $0 | $4,635-100.0% | $6,461-100.0% | $2,584-100.0% |
| Participant deferral / active EE | $3,488 | $6,568-46.9% | $9,147-61.9% | $4,194-16.8% |
| Admin fee / account holder | $3,806 | $17,617-78.4% | $19,830-80.8% | $7,856-51.6% |