Filed May 16, 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 | $23,724 | $135,956-82.6% | $123,894-80.9% | $273,972-91.3% |
| Participation rate | 42.9% | 84.1%-41.2pp | 81.4%-38.6pp | 83.0%-40.2pp |
| Annual return | 4.80% | 56.63%-51.8pp | 47.52%-42.7pp | 41.46%-36.7pp |
| Employer contribution / active EE | $0 | $5,170-100.0% | $4,617-100.0% | $4,869-100.0% |
| Participant deferral / active EE | $5,114 | $6,343-19.4% | $5,984-14.5% | $5,287-3.3% |
| Admin fee / account holder | $13,867 | $9,817+41.2% | $8,357+65.9% | $10,133+36.9% |