Filed September 7, 2022
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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 | $106,607 | $76,371+39.6% | $93,621+13.9% | $72,976+46.1% |
| Participation rate | 63.6% | 71.8%-8.1pp | 75.8%-12.2pp | 69.5%-5.9pp |
| Annual return | 23.33% | 25.82%-2.5pp | 32.76%-9.4pp | 81.02%-57.7pp |
| Employer contribution / active EE | $438 | $2,276-80.7% | $2,719-83.9% | $2,440-82.0% |
| Participant deferral / active EE | $2,260 | $3,538-36.1% | $4,070-44.5% | $3,608-37.3% |
| Admin fee / account holder | $2,882 | $6,839-57.9% | $7,890-63.5% | $5,124-43.8% |