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 | $63,736 | $62,583+1.8% | $76,767-17.0% | $64,173-0.7% |
| Participation rate | 60.4% | 72.8%-12.4pp | 77.0%-16.5pp | 69.6%-9.2pp |
| Annual return | -6.04% | -1.95%-4.1pp | 2.43%-8.5pp | 7.63%-13.7pp |
| Employer contribution / active EE | $2,362 | $1,832+28.9% | $2,485-4.9% | $2,381-0.8% |
| Participant deferral / active EE | $3,767 | $3,145+19.8% | $3,852-2.2% | $3,470+8.6% |
| Admin fee / account holder | $8,680 | $4,667+86.0% | $6,675+30.0% | $4,887+77.6% |