Filed November 30, 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 | $40,476 | $76,551-47.1% | $123,894-67.3% | $62,881-35.6% |
| Participation rate | 60.0% | 73.0%-13.0pp | 81.4%-21.4pp | 69.3%-9.3pp |
| Annual return | 9.95% | 18.68%-8.7pp | 47.52%-37.6pp | 20.14%-10.2pp |
| Employer contribution / active EE | $2,216 | $2,882-23.1% | $4,617-52.0% | $2,281-2.8% |
| Participant deferral / active EE | $4,400 | $4,840-9.1% | $5,984-26.5% | $3,203+37.4% |
| Admin fee / account holder | $1,220 | $4,826-74.7% | $8,357-85.4% | $4,296-71.6% |