Filed August 24, 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 | $151,128 | $51,642+192.6% | $129,384+16.8% | $80,935+86.7% |
| Participation rate | 25.7% | 56.9%-31.2pp | 69.6%-44.0pp | 67.7%-42.0pp |
| Annual return | 18.45% | 20.78%-2.3pp | 9461.77%-9443.3pp | 35.66%-17.2pp |
| Employer contribution / active EE | $834 | $1,583-47.3% | $4,153-79.9% | $2,757-69.7% |
| Participant deferral / active EE | $1,836 | $2,670-31.2% | $4,166-55.9% | $4,299-57.3% |
| Admin fee / account holder | $14,972 | $4,312+247.2% | $7,686+94.8% | $6,924+116.2% |