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 | $40,815 | $65,566-37.7% | $86,235-52.7% | $75,177-45.7% |
| Participation rate | 49.4% | 60.5%-11.1pp | 69.0%-19.6pp | 67.2%-17.8pp |
| Annual return | 17.00% | 46.07%-29.1pp | 1170.03%-1153.0pp | 160.75%-143.8pp |
| Employer contribution / active EE | $406 | $1,553-73.9% | $2,381-83.0% | $2,671-84.8% |
| Participant deferral / active EE | $2,837 | $3,023-6.2% | $3,987-28.8% | $4,126-31.2% |
| Admin fee / account holder | $3,704 | $5,470-32.3% | $6,856-46.0% | $5,651-34.5% |