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 | $29,864 | $64,010-53.3% | $108,359-72.4% | $64,340-53.6% |
| Participation rate | 44.9% | 49.4%-4.5pp | 70.1%-25.3pp | 55.2%-10.4pp |
| Annual return | 27.85% | 19.74%+8.1pp | 36.89%-9.0pp | 24.14%+3.7pp |
| Employer contribution / active EE | $661 | $1,029-35.7% | $2,399-72.4% | $1,862-64.5% |
| Participant deferral / active EE | $1,851 | $2,395-22.7% | $4,137-55.3% | $2,980-37.9% |
| Admin fee / account holder | $2,117 | $4,885-56.7% | $9,741-78.3% | $3,703-42.8% |