Filed December 15, 2022
Total covered: 382 employees
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer contribution per participant is in the bottom quintile of the peer cohort.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Annual investment return is in the bottom quintile of the peer cohort.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $61,189 | $16,790+264.4% | $64,489-5.1% | $67,986-10.0% |
| Participation rate | 46.8% | 62.4%-15.6pp | 67.7%-20.9pp | 57.2%-10.4pp |
| Annual return | 13.48% | 30.55%-17.1pp | 55.03%-41.5pp | 31.67%-18.2pp |
| Employer contribution / active EE | $205 | $648-68.3% | $1,523-86.5% | $2,019-89.8% |
| Participant deferral / active EE | $1,806 | $1,510+19.6% | $2,778-35.0% | $3,358-46.2% |
| Admin fee / account holder | $5,987 | $1,690+254.3% | $4,260+40.5% | $3,203+86.9% |