Filed October 21, 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 | $39,985 | $27,639+44.7% | $61,501-35.0% | $68,490-41.6% |
| Participation rate | 32.5% | 39.5%-7.0pp | 52.6%-20.1pp | 67.9%-35.4pp |
| Annual return | -13.55% | -13.19%-0.4pp | 339.04%-352.6pp | -7.85%-5.7pp |
| Employer contribution / active EE | $685 | $696-1.5% | $1,160-40.9% | $2,597-73.6% |
| Participant deferral / active EE | $1,284 | $1,264+1.6% | $2,125-39.6% | $4,028-68.1% |
| Admin fee / account holder | $1,071 | $2,012-46.8% | $2,132-49.8% | $5,403-80.2% |