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 | $19,646+211.5% | $71,585-14.5% | $64,097-4.5% |
| Participation rate | 46.8% | 64.7%-17.9pp | 68.2%-21.3pp | 55.2%-8.4pp |
| Annual return | 13.48% | 36.81%-23.3pp | 59.26%-45.8pp | 34.64%-21.2pp |
| Employer contribution / active EE | $205 | $713-71.2% | $1,669-87.7% | $1,891-89.1% |
| Participant deferral / active EE | $1,806 | $1,665+8.5% | $2,923-38.2% | $3,080-41.4% |
| Admin fee / account holder | $5,987 | $1,850+223.6% | $4,712+27.1% | $3,454+73.3% |