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.)
Annual investment return is in the bottom quintile of the peer cohort.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $18,793 | $59,819-68.6% | $79,583-76.4% | $68,490-72.6% |
| Participation rate | 48.3% | 61.1%-12.8pp | 69.5%-21.2pp | 67.9%-19.6pp |
| Annual return | -19.46% | -12.30%-7.2pp | 0.16%-19.6pp | -7.85%-11.6pp |
| Employer contribution / active EE | $339 | $1,505-77.5% | $2,414-85.9% | $2,597-86.9% |
| Participant deferral / active EE | $2,012 | $3,025-33.5% | $3,986-49.5% | $4,028-50.0% |
| Admin fee / account holder | $2,060 | $4,835-57.4% | $6,835-69.9% | $5,403-61.9% |