Filed January 2, 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 | $69,815 | $54,541+28.0% | $78,778-11.4% | $70,126-0.4% |
| Participation rate | 69.8% | 60.8%+9.0pp | 69.2%+0.6pp | 69.5%+0.3pp |
| Annual return | 14.65% | 21.07%-6.4pp | 35.62%-21.0pp | 73.15%-58.5pp |
| Employer contribution / active EE | $0 | $1,089-100.0% | $1,986-100.0% | $2,343-100.0% |
| Participant deferral / active EE | $2,772 | $2,210+25.4% | $2,958-6.3% | $3,332-16.8% |
| Admin fee / account holder | $10,293 | $3,709+177.6% | $5,134+100.5% | $4,645+121.6% |