Filed March 31, 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 | $30,730 | $54,541-43.7% | $78,778-61.0% | $70,124-56.2% |
| Participation rate | 60.0% | 60.8%-0.8pp | 69.2%-9.2pp | 69.5%-9.5pp |
| Annual return | 17.76% | 21.07%-3.3pp | 35.62%-17.9pp | 73.14%-55.4pp |
| Employer contribution / active EE | $1,643 | $1,089+50.9% | $1,986-17.3% | $2,342-29.9% |
| Participant deferral / active EE | $2,346 | $2,210+6.1% | $2,958-20.7% | $3,332-29.6% |
| Admin fee / account holder | $1,363 | $3,709-63.2% | $5,134-73.4% | $4,645-70.7% |