Filed March 14, 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 | $39,969 | $59,191-32.5% | $76,767-47.9% | $56,289-29.0% |
| Participation rate | 60.6% | 75.2%-14.7pp | 77.0%-16.4pp | 69.9%-9.3pp |
| Annual return | 13.01% | 6.62%+6.4pp | 2.43%+10.6pp | -9.96%+23.0pp |
| Employer contribution / active EE | $1,518 | $1,759-13.7% | $2,485-38.9% | $2,111-28.1% |
| Participant deferral / active EE | $3,247 | $3,255-0.2% | $3,852-15.7% | $3,350-3.1% |
| Admin fee / account holder | $1,605 | $489+228.0% | $6,675-76.0% | $521+208.0% |