Filed September 7, 2022
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer contribution per participant is in the bottom quintile of the peer cohort.
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 | $178,544 | $87,037+105.1% | $106,201+68.1% | $80,874+120.8% |
| Participation rate | 57.8% | 70.4%-12.6pp | 75.3%-17.5pp | 67.6%-9.8pp |
| Annual return | 18.57% | 17.05%+1.5pp | 116.26%-97.7pp | 35.62%-17.0pp |
| Employer contribution / active EE | $611 | $2,396-74.5% | $3,170-80.7% | $2,756-77.8% |
| Participant deferral / active EE | $3,453 | $3,986-13.4% | $5,012-31.1% | $4,297-19.7% |
| Admin fee / account holder | $17,381 | $8,434+106.1% | $11,039+57.4% | $6,935+150.6% |