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.)
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $39,476 | $65,034-39.3% | $90,970-56.6% | $79,856-50.6% |
| Participation rate | 59.3% | 61.6%-2.4pp | 69.0%-9.8pp | 69.6%-10.4pp |
| Annual return | 14.88% | 30.45%-15.6pp | 134.60%-119.7pp | 31.71%-16.8pp |
| Employer contribution / active EE | $444 | $1,247-64.4% | $2,122-79.1% | $2,471-82.0% |
| Participant deferral / active EE | $2,199 | $2,512-12.5% | $3,373-34.8% | $3,741-41.2% |
| Admin fee / account holder | $4,534 | $4,5360% | $5,961-23.9% | $5,306-14.6% |