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 | $43,496+151.7% | $161,489-32.2% | $64,340+70.1% |
| Participation rate | 42.1% | 53.5%-11.5pp | 78.7%-36.6pp | 55.2%-13.2pp |
| Annual return | 15.81% | 20.76%-5.0pp | 89.72%-73.9pp | 24.14%-8.3pp |
| Employer contribution / active EE | $759 | $1,431-47.0% | $4,268-82.2% | $1,862-59.2% |
| Participant deferral / active EE | $2,027 | $1,996+1.6% | $5,630-64.0% | $2,980-32.0% |
| Admin fee / account holder | $10,327 | $2,330+343.2% | $16,006-35.5% | $3,703+178.9% |