Filed April 11, 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.)
Annual investment return is in the bottom quintile of the peer cohort.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $81,911 | $45,872+78.6% | $77,096+6.2% | $68,486+19.6% |
| Participation rate | 64.3% | 55.9%+8.4pp | 67.9%-3.6pp | 67.9%-3.6pp |
| Annual return | -21.06% | 1.73%-22.8pp | 42.35%-63.4pp | -7.85%-13.2pp |
| Employer contribution / active EE | $1,512 | $1,650-8.3% | $2,814-46.3% | $2,597-41.8% |
| Participant deferral / active EE | $2,405 | $2,963-18.8% | $4,429-45.7% | $4,028-40.3% |
| Admin fee / account holder | $1,504 | $3,041-50.5% | $5,428-72.3% | $5,404-72.2% |