Filed June 20, 2023
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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 | $33,817 | $86,940-61.1% | $102,434-67.0% | $80,935-58.2% |
| Participation rate | 58.2% | 72.4%-14.2pp | 76.5%-18.3pp | 67.7%-9.5pp |
| Annual return | 11.86% | 18.89%-7.0pp | 29.46%-17.6pp | 35.66%-23.8pp |
| Employer contribution / active EE | $464 | $2,370-80.4% | $3,023-84.6% | $2,757-83.2% |
| Participant deferral / active EE | $2,463 | $4,121-40.2% | $5,055-51.3% | $4,299-42.7% |
| Admin fee / account holder | $13,879 | $8,047+72.5% | $9,462+46.7% | $6,924+100.4% |