Filed March 1, 2023
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Participant 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.)
Annual investment return is in the bottom quintile of the peer cohort.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $33,738 | $45,050-25.1% | $63,018-46.5% | $70,126-51.9% |
| Participation rate | 24.5% | 69.5%-45.0pp | 74.8%-50.3pp | 69.5%-45.1pp |
| Annual return | 10.41% | 18.76%-8.4pp | 87.62%-77.2pp | 73.15%-62.7pp |
| Employer contribution / active EE | $0 | $2,052-100.0% | $2,761-100.0% | $2,343-100.0% |
| Participant deferral / active EE | $395 | $2,466-84.0% | $3,330-88.1% | $3,332-88.1% |
| Admin fee / account holder | $794 | $2,834-72.0% | $3,601-77.9% | $4,645-82.9% |