Filed September 11, 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 | $118,083 | $77,896+51.6% | $134,172-12.0% | $82,448+43.2% |
| Participation rate | 21.3% | 62.8%-41.5pp | 72.5%-51.2pp | 68.1%-46.8pp |
| Annual return | 17.59% | 18.21%-0.6pp | 25.30%-7.7pp | 41.64%-24.1pp |
| Employer contribution / active EE | $824 | $2,159-61.8% | $3,420-75.9% | $2,551-67.7% |
| Participant deferral / active EE | $2,006 | $3,162-36.6% | $4,690-57.2% | $4,139-51.5% |
| Admin fee / account holder | $383 | $6,336-94.0% | $12,016-96.8% | $7,234-94.7% |