Filed January 17, 2023
Total covered: 2 employees
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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 | $42,234 | $44,221-4.5% | $121,220-65.2% | $56,289-25.0% |
| Participation rate | 25.0% | 61.1%-36.1pp | 71.8%-46.8pp | 69.9%-44.9pp |
| Annual return | 0.00% | -3.58%+3.6pp | 16.94%-16.9pp | -9.96%+10.0pp |
| Employer contribution / active EE | $597 | $1,480-59.6% | $4,023-85.1% | $2,111-71.7% |
| Participant deferral / active EE | $910 | $2,521-63.9% | $3,345-72.8% | $3,350-72.8% |
| Admin fee / account holder | $7,326 | $480+1425.0% | $5,021+45.9% | $521+1306.2% |