Filed June 12, 2023
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Participant contribution per participant is in the bottom quintile of the peer cohort.
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 | $40,695 | $102,385-60.3% | $147,080-72.3% | $80,935-49.7% |
| Participation rate | 68.1% | 75.9%-7.8pp | 82.2%-14.1pp | 67.7%+0.5pp |
| Annual return | 9.47% | 135.09%-125.6pp | 420.17%-410.7pp | 35.66%-26.2pp |
| Employer contribution / active EE | $1,390 | $3,717-62.6% | $4,933-71.8% | $2,757-49.6% |
| Participant deferral / active EE | $2,525 | $6,651-62.0% | $8,066-68.7% | $4,299-41.3% |
| Admin fee / account holder | $1,852 | $7,951-76.7% | $12,989-85.7% | $6,924-73.2% |