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 | $64,501-53.7% | $108,753-72.5% | $65,306-54.3% |
| Participation rate | 44.9% | 50.8%-5.9pp | 71.1%-26.2pp | 57.7%-12.8pp |
| Annual return | 27.85% | 21.09%+6.8pp | 37.47%-9.6pp | 21.94%+5.9pp |
| Employer contribution / active EE | $661 | $1,069-38.1% | $2,427-72.7% | $1,967-66.4% |
| Participant deferral / active EE | $1,851 | $2,401-22.9% | $4,115-55.0% | $2,959-37.5% |
| Admin fee / account holder | $2,117 | $4,971-57.4% | $10,320-79.5% | $3,480-39.2% |