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 | $55,376 | $70,430-21.4% | $96,572-42.7% | $85,851-35.5% |
| Participation rate | 56.4% | 61.8%-5.4pp | 69.8%-13.5pp | 69.3%-13.0pp |
| Annual return | 13.25% | 18.58%-5.3pp | 37.79%-24.5pp | 318.63%-305.4pp |
| Employer contribution / active EE | $434 | $1,413-69.3% | $2,357-81.6% | $2,565-83.1% |
| Participant deferral / active EE | $2,314 | $2,894-20.1% | $3,850-39.9% | $3,952-41.5% |
| Admin fee / account holder | $7,556 | $4,996+51.2% | $6,183+22.2% | $6,261+20.7% |