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 | $143,969-46.1% | $199,883-61.2% | $82,637-6.1% |
| Participation rate | 66.7% | 84.1%-17.5pp | 86.8%-20.1pp | 68.1%-1.4pp |
| Annual return | 5.25% | 25.67%-20.4pp | 43.81%-38.6pp | 53.51%-48.3pp |
| Employer contribution / active EE | $0 | $4,632-100.0% | $6,261-100.0% | $2,552-100.0% |
| Participant deferral / active EE | $3,488 | $6,937-49.7% | $9,138-61.8% | $4,126-15.5% |
| Admin fee / account holder | $3,806 | $14,597-73.9% | $17,268-78.0% | $7,339-48.1% |