Filed January 20, 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 | $15,687 | $31,109-49.6% | $67,704-76.8% | $52,331-70.0% |
| Participation rate | 21.6% | 54.0%-32.4pp | 67.5%-45.9pp | 68.1%-46.5pp |
| Annual return | -0.78% | 23.70%-24.5pp | 25.41%-26.2pp | 4.54%-5.3pp |
| Employer contribution / active EE | $672 | $1,076-37.5% | $2,559-73.7% | $1,882-64.3% |
| Participant deferral / active EE | $1,185 | $1,970-39.8% | $3,585-66.9% | $3,022-60.8% |
| Admin fee / account holder | $714 | $466+53.3% | $4,255-83.2% | $592+20.8% |