Filed March 24, 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 | $146,578 | $52,678+178.3% | $75,784+93.4% | $59,633+145.8% |
| Participation rate | 61.5% | 67.2%-5.7pp | 75.8%-14.3pp | 68.7%-7.1pp |
| Annual return | 0.00% | 2.95%-3.0pp | 9.68%-9.7pp | 2041.45%-2041.5pp |
| Employer contribution / active EE | $0 | $2,193-100.0% | $3,323-100.0% | $2,203-100.0% |
| Participant deferral / active EE | $6,511 | $2,591+151.3% | $3,652+78.3% | $3,192+104.0% |
| Admin fee / account holder | $636 | $3,610-82.4% | $5,300-88.0% | $4,297-85.2% |