Filed November 14, 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 | $32,135 | $57,828-44.4% | $117,039-72.5% | $70,126-54.2% |
| Participation rate | 50.9% | 67.1%-16.2pp | 77.2%-26.2pp | 69.5%-18.6pp |
| Annual return | 18.95% | 17.55%+1.4pp | 18.95%0pp | 73.15%-54.2pp |
| Employer contribution / active EE | $3,392 | $1,816+86.8% | $3,785-10.4% | $2,343+44.8% |
| Participant deferral / active EE | $1,970 | $2,438-19.2% | $3,929-49.9% | $3,332-40.9% |
| Admin fee / account holder | $8,616 | $3,548+142.8% | $5,974+44.2% | $4,645+85.5% |