Filed June 5, 2023
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Participant 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 | $46,862 | $184,000-74.5% | $162,185-71.1% | $152,909-69.4% |
| Participation rate | 50.0% | 88.5%-38.5pp | 87.6%-37.6pp | 82.5%-32.5pp |
| Annual return | 21.10% | 150.80%-129.7pp | 115.61%-94.5pp | 345.46%-324.4pp |
| Employer contribution / active EE | $2,095 | $6,370-67.1% | $5,613-62.7% | $4,764-56.0% |
| Participant deferral / active EE | $1,540 | $8,033-80.8% | $7,297-78.9% | $5,851-73.7% |
| Admin fee / account holder | $1,032 | $13,124-92.1% | $10,844-90.5% | $11,601-91.1% |