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 | $64,010+22.7% | $108,359-27.5% | $64,340+22.1% |
| Participation rate | 48.7% | 49.4%-0.6pp | 70.1%-21.4pp | 55.2%-6.5pp |
| Annual return | 15.35% | 19.74%-4.4pp | 36.89%-21.5pp | 24.14%-8.8pp |
| Employer contribution / active EE | $1,989 | $1,029+93.4% | $2,399-17.1% | $1,862+6.9% |
| Participant deferral / active EE | $2,913 | $2,395+21.6% | $4,137-29.6% | $2,980-2.2% |
| Admin fee / account holder | $2,607 | $4,885-46.6% | $9,741-73.2% | $3,703-29.6% |