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 | $101,110 | $71,873+40.7% | $86,698+16.6% | $68,490+47.6% |
| Participation rate | 60.4% | 72.2%-11.8pp | 76.6%-16.2pp | 67.9%-7.5pp |
| Annual return | -15.95% | 3.54%-19.5pp | 35.96%-51.9pp | -7.85%-8.1pp |
| Employer contribution / active EE | $3,615 | $2,173+66.3% | $2,837+27.4% | $2,597+39.2% |
| Participant deferral / active EE | $5,638 | $3,779+49.2% | $4,656+21.1% | $4,028+40.0% |
| Admin fee / account holder | $3,396 | $6,110-44.4% | $7,492-54.7% | $5,403-37.1% |