Filed July 17, 2024
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Participant contribution per participant is in the bottom quintile of the peer cohort.
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 | $61,853 | $140,592-56.0% | $123,105-49.8% | $125,389-50.7% |
| Participation rate | 66.7% | 88.2%-21.5pp | 86.8%-20.1pp | 83.2%-16.5pp |
| Annual return | -0.80% | 16.80%-17.6pp | 13.22%-14.0pp | 282.24%-283.0pp |
| Employer contribution / active EE | $1,840 | $6,041-69.5% | $5,151-64.3% | $4,866-62.2% |
| Participant deferral / active EE | $1,845 | $6,980-73.6% | $6,229-70.4% | $5,352-65.5% |
| Admin fee / account holder | $2,718 | $11,198-75.7% | $9,014-69.9% | $9,541-71.5% |