Filed July 22, 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 | $37,647 | $82,678-54.5% | $125,391-70.0% | $68,490-45.0% |
| Participation rate | 45.0% | 75.1%-30.1pp | 82.4%-37.4pp | 67.9%-22.9pp |
| Annual return | -15.80% | -5.97%-9.8pp | 572.41%-588.2pp | -7.85%-7.9pp |
| Employer contribution / active EE | $1,737 | $3,382-48.6% | $4,816-63.9% | $2,597-33.1% |
| Participant deferral / active EE | $2,974 | $6,111-51.3% | $7,448-60.1% | $4,028-26.2% |
| Admin fee / account holder | $8,040 | $6,277+28.1% | $10,009-19.7% | $5,403+48.8% |