Filed November 6, 2023
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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.)
Plan appears closed to new enrollment or frozen - balance-holders far exceed active participants, or the plan reports active distributions with no inflows. Exclude from peer benchmarks.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $30,197 | $158,852-81.0% | $121,220-75.1% | $135,380-77.7% |
| Participation rate | 26.7% | 79.3%-52.6pp | 71.8%-45.1pp | 82.6%-56.0pp |
| Annual return | 13.82% | -0.64%+14.5pp | 16.94%-3.1pp | 519.81%-506.0pp |
| Employer contribution / active EE | $0 | $5,666-100.0% | $4,023-100.0% | $4,779-100.0% |
| Participant deferral / active EE | $0 | $4,006-100.0% | $3,345-100.0% | $5,609-100.0% |
| Admin fee / account holder | $1,517 | $6,515-76.7% | $5,021-69.8% | $10,828-86.0% |