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 | $45,043-43.2% | $85,063-69.9% | $74,400-65.6% |
| Participation rate | 60.0% | 49.4%+10.6pp | 67.5%-7.5pp | 67.2%-7.2pp |
| Annual return | 11.87% | 26.26%-14.4pp | 66.54%-54.7pp | 1367.51%-1355.6pp |
| Employer contribution / active EE | $693 | $1,458-52.5% | $2,727-74.6% | $2,624-73.6% |
| Participant deferral / active EE | $1,839 | $2,733-32.7% | $4,523-59.3% | $4,348-57.7% |
| Admin fee / account holder | $3,116 | $2,210+41.0% | $6,155-49.4% | $1,944+60.3% |