Filed February 10, 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 | $61,625 | $57,352+7.4% | $83,831-26.5% | $64,173-4.0% |
| Participation rate | 31.9% | 68.6%-36.7pp | 76.1%-44.2pp | 69.6%-37.7pp |
| Annual return | -5.22% | 11.38%-16.6pp | 850.99%-856.2pp | 7.63%-12.9pp |
| Employer contribution / active EE | $878 | $2,546-65.5% | $3,631-75.8% | $2,381-63.1% |
| Participant deferral / active EE | $1,706 | $2,993-43.0% | $4,082-58.2% | $3,470-50.8% |
| Admin fee / account holder | $646 | $4,046-84.0% | $5,479-88.2% | $4,887-86.8% |