Filed July 7, 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 | $39,349 | $59,335-33.7% | $129,031-69.5% | $69,733-43.6% |
| Participation rate | 25.0% | 43.3%-18.3pp | 73.4%-48.4pp | 62.5%-37.5pp |
| Annual return | 13.83% | 19.52%-5.7pp | 34.67%-20.8pp | 15.22%-1.4pp |
| Employer contribution / active EE | $1,419 | $1,639-13.4% | $3,226-56.0% | $2,250-36.9% |
| Participant deferral / active EE | $0 | $2,485-100.0% | $5,217-100.0% | $3,054-100.0% |
| Admin fee / account holder | $7,329 | $3,940+86.0% | $13,208-44.5% | $3,102+136.3% |