Filed August 14, 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 | $109,459 | $45,343+141.4% | $150,298-27.2% | $67,986+61.0% |
| Participation rate | 42.1% | 51.9%-9.8pp | 77.8%-35.7pp | 57.2%-15.1pp |
| Annual return | 15.81% | 33.28%-17.5pp | 62.79%-47.0pp | 31.67%-15.9pp |
| Employer contribution / active EE | $759 | $1,462-48.1% | $4,154-81.7% | $2,019-62.4% |
| Participant deferral / active EE | $2,027 | $2,055-1.3% | $5,453-62.8% | $3,358-39.6% |
| Admin fee / account holder | $10,327 | $2,250+359.0% | $14,116-26.8% | $3,203+222.4% |