Filed October 25, 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 | $32,665 | $73,848-55.8% | $143,799-77.3% | $68,486-52.3% |
| Participation rate | 67.6% | 66.7%+0.9pp | 80.3%-12.7pp | 67.9%-0.3pp |
| Annual return | -16.93% | 0.91%-17.8pp | -0.04%-16.9pp | -7.85%-9.1pp |
| Employer contribution / active EE | $1,663 | $3,184-47.8% | $4,952-66.4% | $2,597-36.0% |
| Participant deferral / active EE | $2,961 | $3,385-12.5% | $5,638-47.5% | $4,028-26.5% |
| Admin fee / account holder | $5,138 | $5,755-10.7% | $14,677-65.0% | $5,404-4.9% |