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 | $57,910 | $64,176-9.8% | $112,263-48.4% | $66,949-13.5% |
| Participation rate | 31.0% | 68.4%-37.4pp | 75.1%-44.1pp | 69.8%-38.8pp |
| Annual return | -16.42% | -13.80%-2.6pp | 27.49%-43.9pp | 1.57%-18.0pp |
| Employer contribution / active EE | $937 | $3,007-68.8% | $3,636-74.2% | $2,545-63.2% |
| Participant deferral / active EE | $2,328 | $3,694-37.0% | $4,729-50.8% | $4,239-45.1% |
| Admin fee / account holder | $428 | $626-31.7% | $6,410-93.3% | $594-28.0% |