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 | $62,809 | $71,873-12.6% | $86,698-27.6% | $68,490-8.3% |
| Participation rate | 59.3% | 72.2%-13.0pp | 76.6%-17.3pp | 67.9%-8.6pp |
| Annual return | -18.50% | 3.54%-22.0pp | 35.96%-54.5pp | -7.85%-10.6pp |
| Employer contribution / active EE | $1,591 | $2,173-26.8% | $2,837-43.9% | $2,597-38.7% |
| Participant deferral / active EE | $4,362 | $3,779+15.4% | $4,656-6.3% | $4,028+8.3% |
| Admin fee / account holder | $1,813 | $6,110-70.3% | $7,492-75.8% | $5,403-66.4% |