Filed November 30, 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 | $63,946 | $60,349+6.0% | $74,184-13.8% | $62,881+1.7% |
| Participation rate | 64.1% | 72.7%-8.6pp | 76.6%-12.5pp | 69.3%-5.2pp |
| Annual return | 7.11% | 21.38%-14.3pp | 17.74%-10.6pp | 20.14%-13.0pp |
| Employer contribution / active EE | $2,478 | $1,680+47.5% | $2,370+4.5% | $2,281+8.6% |
| Participant deferral / active EE | $3,078 | $2,856+7.8% | $3,550-13.3% | $3,203-3.9% |
| Admin fee / account holder | $759 | $4,261-82.2% | $5,586-86.4% | $4,296-82.3% |