Filed January 11, 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 | $71,805 | $83,369-13.9% | $105,223-31.8% | $67,986+5.6% |
| Participation rate | 45.1% | 56.3%-11.2pp | 75.0%-30.0pp | 57.2%-12.1pp |
| Annual return | 18.59% | 24.64%-6.1pp | 180.65%-162.1pp | 31.67%-13.1pp |
| Employer contribution / active EE | $1,566 | $2,541-38.3% | $3,689-57.5% | $2,019-22.4% |
| Participant deferral / active EE | $3,306 | $3,295+0.3% | $5,072-34.8% | $3,358-1.5% |
| Admin fee / account holder | $2,413 | $4,073-40.7% | $8,859-72.8% | $3,203-24.7% |