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 | $69,903 | $56,339+24.1% | $104,301-33.0% | $68,486+2.1% |
| Participation rate | 13.7% | 63.3%-49.6pp | 73.3%-59.6pp | 67.9%-54.2pp |
| Annual return | -17.16% | -9.19%-8.0pp | 24.61%-41.8pp | -7.85%-9.3pp |
| Employer contribution / active EE | $546 | $1,960-72.2% | $3,373-83.8% | $2,597-79.0% |
| Participant deferral / active EE | $1,347 | $3,077-56.2% | $4,626-70.9% | $4,028-66.6% |
| Admin fee / account holder | $2,841 | $4,902-42.0% | $7,340-61.3% | $5,404-47.4% |