Filed June 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 | $25,592 | $45,126-43.3% | $85,187-70.0% | $74,459-65.6% |
| Participation rate | 60.0% | 49.4%+10.6pp | 67.5%-7.5pp | 67.2%-7.2pp |
| Annual return | 11.87% | 26.30%-14.4pp | 66.67%-54.8pp | 1369.70%-1357.8pp |
| Employer contribution / active EE | $693 | $1,460-52.5% | $2,732-74.6% | $2,626-73.6% |
| Participant deferral / active EE | $1,839 | $2,738-32.8% | $4,525-59.4% | $4,350-57.7% |
| Admin fee / account holder | $3,116 | $2,212+40.9% | $6,162-49.4% | $1,945+60.2% |