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 | $65,246-54.2% | $98,716-69.7% | $67,986-56.1% |
| Participation rate | 44.9% | 51.4%-6.6pp | 69.3%-24.4pp | 57.2%-12.3pp |
| Annual return | 27.85% | 20.58%+7.3pp | 31.81%-4.0pp | 31.67%-3.8pp |
| Employer contribution / active EE | $661 | $1,042-36.5% | $2,279-71.0% | $2,019-67.2% |
| Participant deferral / active EE | $1,851 | $2,594-28.6% | $4,048-54.3% | $3,358-44.9% |
| Admin fee / account holder | $2,117 | $4,561-53.6% | $8,703-75.7% | $3,203-33.9% |