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 | $42,909+82.3% | $152,093-48.6% | $71,012+10.2% |
| Participation rate | 5.9% | 54.7%-48.8pp | 77.8%-71.9pp | 58.6%-52.7pp |
| Annual return | 9.57% | 30.57%-21.0pp | 66.36%-56.8pp | 37.67%-28.1pp |
| Employer contribution / active EE | $0 | $1,369-100.0% | $4,175-100.0% | $2,348-100.0% |
| Participant deferral / active EE | $166 | $1,904-91.3% | $5,451-96.9% | $3,246-94.9% |
| Admin fee / account holder | $7,131 | $1,014+603.2% | $14,497-50.8% | $1,167+511.0% |