Filed March 29, 2024
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer 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 | $95,191 | $48,432+96.5% | $121,204-21.5% | $71,511+33.1% |
| Participation rate | 32.0% | 54.3%-22.3pp | 69.5%-37.5pp | 67.9%-35.9pp |
| Annual return | 17.23% | 23.28%-6.0pp | 987.18%-969.9pp | 28.86%-11.6pp |
| Employer contribution / active EE | $228 | $1,493-84.8% | $4,170-94.5% | $2,589-91.2% |
| Participant deferral / active EE | $1,357 | $2,756-50.8% | $4,083-66.8% | $4,291-68.4% |
| Admin fee / account holder | $930 | $1,845-49.6% | $5,651-83.5% | $1,588-41.4% |