Filed April 12, 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 | $106,022 | $86,949+21.9% | $102,460+3.5% | $80,959+31.0% |
| Participation rate | 63.0% | 72.4%-9.4pp | 76.5%-13.5pp | 67.7%-4.7pp |
| Annual return | 13.87% | 18.89%-5.0pp | 29.47%-15.6pp | 35.67%-21.8pp |
| Employer contribution / active EE | $2,115 | $2,370-10.8% | $3,025-30.1% | $2,757-23.3% |
| Participant deferral / active EE | $5,660 | $4,121+37.3% | $5,056+11.9% | $4,300+31.6% |
| Admin fee / account holder | $1,889 | $8,048-76.5% | $9,460-80.0% | $6,925-72.7% |