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 | $69,390 | $49,451+40.3% | $79,580-12.8% | $66,938+3.7% |
| Participation rate | 36.5% | 61.3%-24.8pp | 69.5%-32.9pp | 69.8%-33.3pp |
| Annual return | -16.15% | 84.25%-100.4pp | 0.15%-16.3pp | 1.58%-17.7pp |
| Employer contribution / active EE | $534 | $1,266-57.8% | $2,413-77.9% | $2,545-79.0% |
| Participant deferral / active EE | $2,652 | $3,159-16.0% | $3,985-33.4% | $4,238-37.4% |
| Admin fee / account holder | $11,119 | $595+1770.1% | $6,835+62.7% | $594+1773.5% |