Filed August 9, 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 | $100,209 | $76,551+30.9% | $123,894-19.1% | $62,881+59.4% |
| Participation rate | 60.0% | 73.0%-13.0pp | 81.4%-21.4pp | 69.3%-9.3pp |
| Annual return | 7.56% | 18.68%-11.1pp | 47.52%-40.0pp | 20.14%-12.6pp |
| Employer contribution / active EE | $2,553 | $2,882-11.4% | $4,617-44.7% | $2,281+11.9% |
| Participant deferral / active EE | $9,048 | $4,840+87.0% | $5,984+51.2% | $3,203+182.5% |
| Admin fee / account holder | $30,182 | $4,826+525.4% | $8,357+261.1% | $4,296+602.6% |