Filed November 15, 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.)
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $31,526 | $43,333-27.2% | $59,883-47.4% | $64,181-50.9% |
| Participation rate | 38.3% | 69.2%-30.9pp | 74.7%-36.4pp | 69.6%-31.3pp |
| Annual return | -1.81% | -1.55%-0.3pp | 3.46%-5.3pp | 7.63%-9.4pp |
| Employer contribution / active EE | $0 | $2,029-100.0% | $2,722-100.0% | $2,381-100.0% |
| Participant deferral / active EE | $1,734 | $2,547-31.9% | $3,402-49.0% | $3,470-50.0% |
| Admin fee / account holder | $2,958 | $3,006-1.6% | $3,591-17.6% | $4,887-39.5% |