Filed February 8, 2024
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer contribution per participant is in the bottom quintile of the peer cohort.
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 | $24,425 | $23,330+4.7% | $64,489-62.1% | $82,448-70.4% |
| Participation rate | 42.4% | 68.3%-25.9pp | 67.7%-25.3pp | 68.1%-25.7pp |
| Annual return | 8.84% | 83.66%-74.8pp | 55.03%-46.2pp | 41.64%-32.8pp |
| Employer contribution / active EE | $133 | $824-83.9% | $1,523-91.3% | $2,551-94.8% |
| Participant deferral / active EE | $1,016 | $1,707-40.5% | $2,778-63.4% | $4,139-75.5% |
| Admin fee / account holder | $526 | $2,946-82.1% | $4,260-87.6% | $7,234-92.7% |