Filed April 10, 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 | $33,222 | $82,674-59.8% | $125,363-73.5% | $68,495-51.5% |
| Participation rate | 64.0% | 75.0%-11.0pp | 82.4%-18.4pp | 67.9%-3.9pp |
| Annual return | -18.57% | -5.97%-12.6pp | 572.15%-590.7pp | -7.84%-10.7pp |
| Employer contribution / active EE | $3,116 | $3,382-7.9% | $4,815-35.3% | $2,596+20.0% |
| Participant deferral / active EE | $6,935 | $6,111+13.5% | $7,447-6.9% | $4,028+72.2% |
| Admin fee / account holder | $3,054 | $6,276-51.3% | $10,005-69.5% | $5,403-43.5% |