Filed November 29, 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 | $49,959 | $54,541-8.4% | $78,778-36.6% | $70,131-28.8% |
| Participation rate | 55.8% | 60.8%-5.0pp | 69.2%-13.4pp | 69.5%-13.8pp |
| Annual return | 16.73% | 21.07%-4.3pp | 35.62%-18.9pp | 73.14%-56.4pp |
| Employer contribution / active EE | $617 | $1,089-43.3% | $1,986-68.9% | $2,342-73.7% |
| Participant deferral / active EE | $1,840 | $2,210-16.8% | $2,958-37.8% | $3,332-44.8% |
| Admin fee / account holder | $1,012 | $3,709-72.7% | $5,134-80.3% | $4,645-78.2% |