Filed January 10, 2023
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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 | $36,456 | $65,685-44.5% | $57,181-36.2% | $273,968-86.7% |
| Participation rate | 62.5% | 78.3%-15.8pp | 75.3%-12.8pp | 83.0%-20.5pp |
| Annual return | 5.66% | 21.99%-16.3pp | 14.59%-8.9pp | 41.45%-35.8pp |
| Employer contribution / active EE | $0 | $3,279-100.0% | $2,682-100.0% | $4,869-100.0% |
| Participant deferral / active EE | $3,069 | $3,781-18.8% | $3,096-0.9% | $5,287-41.9% |
| Admin fee / account holder | $3,060 | $4,835-36.7% | $3,139-2.5% | $10,132-69.8% |