Filed August 8, 2024
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Participant contribution per participant is in the bottom quintile of the peer cohort.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Annual investment return is in the bottom quintile of the peer cohort.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $78,231 | $36,002+117.3% | $161,489-51.6% | $64,728+20.9% |
| Participation rate | 5.9% | 57.4%-51.6pp | 78.7%-72.8pp | 57.9%-52.0pp |
| Annual return | 9.57% | 33.93%-24.4pp | 89.72%-80.1pp | 49.38%-39.8pp |
| Employer contribution / active EE | $0 | $1,380-100.0% | $4,268-100.0% | $2,243-100.0% |
| Participant deferral / active EE | $166 | $1,815-90.8% | $5,630-97.0% | $2,729-93.9% |
| Admin fee / account holder | $7,131 | $931+666.2% | $16,006-55.4% | $1,145+522.7% |