Filed November 8, 2024
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer 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.)
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $28,263 | $65,092-56.6% | $143,799-80.3% | $66,938-57.8% |
| Participation rate | 18.3% | 65.2%-47.0pp | 80.3%-62.1pp | 69.8%-51.6pp |
| Annual return | -17.19% | -11.14%-6.1pp | -0.04%-17.1pp | 1.58%-18.8pp |
| Employer contribution / active EE | $398 | $2,362-83.1% | $4,952-92.0% | $2,545-84.4% |
| Participant deferral / active EE | $1,109 | $2,920-62.0% | $5,638-80.3% | $4,238-73.8% |
| Admin fee / account holder | $765 | $502+52.3% | $14,677-94.8% | $594+28.9% |