Filed August 23, 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.)
Annual investment return is in the bottom quintile of the peer cohort.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $42,872 | $71,230-39.8% | $93,727-54.3% | $80,959-47.0% |
| Participation rate | 54.4% | 60.4%-6.0pp | 68.7%-14.3pp | 67.7%-13.2pp |
| Annual return | 0.42% | 11.26%-10.8pp | 133.83%-133.4pp | 35.67%-35.2pp |
| Employer contribution / active EE | $1,061 | $1,565-32.2% | $2,421-56.2% | $2,757-61.5% |
| Participant deferral / active EE | $2,944 | $4,037-27.1% | $4,417-33.4% | $4,300-31.5% |
| Admin fee / account holder | $1,430 | $6,961-79.5% | $8,292-82.7% | $6,925-79.3% |