Filed April 30, 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.)
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $29,772 | $36,140-17.6% | $73,658-59.6% | $64,340-53.7% |
| Participation rate | 39.4% | 31.0%+8.4pp | 57.0%-17.6pp | 55.2%-15.8pp |
| Annual return | 24.25% | 21.48%+2.8pp | 29.72%-5.5pp | 24.14%+0.1pp |
| Employer contribution / active EE | $505 | $443+13.9% | $1,032-51.1% | $1,862-72.9% |
| Participant deferral / active EE | $2,380 | $1,023+132.8% | $2,062+15.4% | $2,980-20.1% |
| Admin fee / account holder | $1,950 | $2,513-22.4% | $3,357-41.9% | $3,703-47.3% |