Filed February 7, 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 | $242,080 | $87,037+178.1% | $106,201+127.9% | $80,874+199.3% |
| Participation rate | 62.5% | 70.4%-7.9pp | 75.3%-12.8pp | 67.6%-5.1pp |
| Annual return | -0.35% | 17.05%-17.4pp | 116.26%-116.6pp | 35.62%-36.0pp |
| Employer contribution / active EE | $12,389 | $2,396+417.1% | $3,170+290.9% | $2,756+349.6% |
| Participant deferral / active EE | $15,444 | $3,986+287.4% | $5,012+208.1% | $4,297+259.4% |
| Admin fee / account holder | $6,043 | $8,434-28.3% | $11,039-45.3% | $6,935-12.9% |