Filed August 21, 2024
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Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Retirees and beneficiaries make up 25% or more of total participants - indicates an ageing workforce or a frozen plan.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $59,480 | $59,804-0.5% | $81,982-27.4% | $79,856-25.5% |
| Participation rate | 94.9% | 61.6%+33.3pp | 69.3%+25.7pp | 69.6%+25.3pp |
| Annual return | 13.37% | 17.56%-4.2pp | 41.31%-27.9pp | 31.71%-18.3pp |
| Employer contribution / active EE | $1,186 | $1,713-30.8% | $2,498-52.5% | $2,471-52.0% |
| Participant deferral / active EE | $0 | $2,695-100.0% | $3,722-100.0% | $3,741-100.0% |
| Admin fee / account holder | $3,482 | $4,288-18.8% | $5,665-38.5% | $5,306-34.4% |