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.)
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $57,858 | $65,364-11.5% | $92,909-37.7% | $72,975-20.7% |
| Participation rate | 52.1% | 68.3%-16.2pp | 76.0%-23.9pp | 69.5%-17.4pp |
| Annual return | 20.18% | 42.11%-21.9pp | 109.44%-89.3pp | 81.01%-60.8pp |
| Employer contribution / active EE | $1,013 | $2,594-61.0% | $3,653-72.3% | $2,440-58.5% |
| Participant deferral / active EE | $1,563 | $3,128-50.1% | $4,238-63.1% | $3,608-56.7% |
| Admin fee / account holder | $4,379 | $4,251+3.0% | $5,795-24.4% | $5,124-14.5% |