Filed September 16, 2022
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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 | $78,529 | $65,246+20.4% | $98,716-20.4% | $67,986+15.5% |
| Participation rate | 48.7% | 51.4%-2.7pp | 69.3%-20.6pp | 57.2%-8.5pp |
| Annual return | 15.35% | 20.58%-5.2pp | 31.81%-16.5pp | 31.67%-16.3pp |
| Employer contribution / active EE | $1,989 | $1,042+90.9% | $2,279-12.7% | $2,019-1.5% |
| Participant deferral / active EE | $2,913 | $2,594+12.3% | $4,048-28.0% | $3,358-13.2% |
| Admin fee / account holder | $2,607 | $4,561-42.8% | $8,703-70.0% | $3,203-18.6% |