Filed March 6, 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 | $40,470 | $46,697-13.3% | $117,533-65.6% | $68,486-40.9% |
| Participation rate | 35.0% | 56.8%-21.8pp | 70.6%-35.6pp | 67.9%-32.9pp |
| Annual return | -19.50% | -14.52%-5.0pp | 29.77%-49.3pp | -7.85%-11.6pp |
| Employer contribution / active EE | $0 | $1,506-100.0% | $4,179-100.0% | $2,597-100.0% |
| Participant deferral / active EE | $2,158 | $2,637-18.2% | $4,072-47.0% | $4,028-46.4% |
| Admin fee / account holder | $579 | $4,023-85.6% | $5,647-89.8% | $5,404-89.3% |