Filed April 12, 2023
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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 | $75,504 | $60,349+25.1% | $74,184+1.8% | $62,881+20.1% |
| Participation rate | 27.1% | 72.7%-45.7pp | 76.6%-49.6pp | 69.3%-42.2pp |
| Annual return | 4.61% | 21.38%-16.8pp | 17.74%-13.1pp | 20.14%-15.5pp |
| Employer contribution / active EE | $644 | $1,680-61.7% | $2,370-72.8% | $2,281-71.8% |
| Participant deferral / active EE | $1,612 | $2,856-43.5% | $3,550-54.6% | $3,203-49.7% |
| Admin fee / account holder | $797 | $4,261-81.3% | $5,586-85.7% | $4,296-81.4% |