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 | $31,172 | $64,176-51.4% | $112,249-72.2% | $66,938-53.4% |
| Participation rate | 45.9% | 68.4%-22.5pp | 75.1%-29.2pp | 69.8%-23.9pp |
| Annual return | -11.89% | -13.80%+1.9pp | 27.48%-39.4pp | 1.58%-13.5pp |
| Employer contribution / active EE | $1,469 | $3,007-51.1% | $3,636-59.6% | $2,545-42.3% |
| Participant deferral / active EE | $3,016 | $3,694-18.4% | $4,729-36.2% | $4,238-28.8% |
| Admin fee / account holder | $1,653 | $626+164.1% | $6,412-74.2% | $594+178.5% |