Filed April 25, 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.)
Annual investment return is in the bottom quintile of the peer cohort.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $55,837 | $57,352-2.6% | $83,831-33.4% | $64,173-13.0% |
| Participation rate | 67.6% | 68.6%-1.0pp | 76.1%-8.6pp | 69.6%-2.0pp |
| Annual return | -10.68% | 11.38%-22.1pp | 850.99%-861.7pp | 7.63%-18.3pp |
| Employer contribution / active EE | $1,765 | $2,546-30.7% | $3,631-51.4% | $2,381-25.9% |
| Participant deferral / active EE | $2,547 | $2,993-14.9% | $4,082-37.6% | $3,470-26.6% |
| Admin fee / account holder | $3,606 | $4,046-10.9% | $5,479-34.2% | $4,887-26.2% |