Filed August 23, 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 | $45,321 | $72,404-37.4% | $110,243-58.9% | $64,173-29.4% |
| Participation rate | 35.3% | 73.3%-38.0pp | 79.8%-44.5pp | 69.6%-34.3pp |
| Annual return | 628.96% | -6.29%+635.2pp | 314.76%+314.2pp | 7.63%+621.3pp |
| Employer contribution / active EE | $1,318 | $2,282-42.2% | $3,827-65.6% | $2,381-44.6% |
| Participant deferral / active EE | $2,242 | $3,469-35.4% | $4,672-52.0% | $3,470-35.4% |
| Admin fee / account holder | $545 | $5,664-90.4% | $8,548-93.6% | $4,887-88.9% |