Filed December 18, 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.)
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $75,260 | $56,894+32.3% | $84,753-11.2% | $62,881+19.7% |
| Participation rate | 63.2% | 68.5%-5.4pp | 76.6%-13.4pp | 69.3%-6.1pp |
| Annual return | 8.44% | 6.30%+2.1pp | 22.78%-14.3pp | 20.14%-11.7pp |
| Employer contribution / active EE | $1,715 | $2,400-28.5% | $3,574-52.0% | $2,281-24.8% |
| Participant deferral / active EE | $6,007 | $2,709+121.7% | $3,712+61.8% | $3,203+87.5% |
| Admin fee / account holder | $4,427 | $3,581+23.6% | $5,333-17.0% | $4,296+3.1% |