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 | $22,024 | $25,014-12.0% | $69,611-68.4% | $80,925-72.8% |
| Participation rate | 38.3% | 64.2%-25.9pp | 66.4%-28.1pp | 67.7%-29.4pp |
| Annual return | 6.99% | 19.08%-12.1pp | 101.14%-94.1pp | 35.65%-28.7pp |
| Employer contribution / active EE | $116 | $991-88.3% | $1,709-93.2% | $2,756-95.8% |
| Participant deferral / active EE | $860 | $1,840-53.3% | $2,891-70.3% | $4,299-80.0% |
| Admin fee / account holder | $6,727 | $2,491+170.1% | $4,696+43.3% | $6,940-3.1% |