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 | $29,051+2.5% | $52,425-43.2% | $67,986-56.2% |
| Participation rate | 39.4% | 30.4%+9.0pp | 55.6%-16.2pp | 57.2%-17.8pp |
| Annual return | 24.25% | 24.00%+0.3pp | 302.12%-277.9pp | 31.67%-7.4pp |
| Employer contribution / active EE | $505 | $412+22.6% | $914-44.8% | $2,019-75.0% |
| Participant deferral / active EE | $2,380 | $873+172.6% | $1,790+32.9% | $3,358-29.1% |
| Admin fee / account holder | $1,950 | $2,113-7.7% | $2,495-21.9% | $3,203-39.1% |