Filed June 7, 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 | $112,964 | $81,487+38.6% | $102,412+10.3% | $80,935+39.6% |
| Participation rate | 61.4% | 66.8%-5.5pp | 74.5%-13.1pp | 67.7%-6.3pp |
| Annual return | 11.63% | 25.60%-14.0pp | 24.94%-13.3pp | 35.66%-24.0pp |
| Employer contribution / active EE | $1,052 | $3,103-66.1% | $3,870-72.8% | $2,757-61.8% |
| Participant deferral / active EE | $4,643 | $3,871+20.0% | $5,060-8.2% | $4,299+8.0% |
| Admin fee / account holder | $16,449 | $6,717+144.9% | $8,388+96.1% | $6,924+137.6% |