Filed August 23, 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 | $83,541 | $138,386-39.6% | $184,260-54.7% | $80,935+3.2% |
| Participation rate | 68.1% | 83.9%-15.8pp | 86.8%-18.7pp | 67.7%+0.4pp |
| Annual return | 13.90% | 20.02%-6.1pp | 28.84%-14.9pp | 35.66%-21.8pp |
| Employer contribution / active EE | $3,501 | $4,851-27.8% | $6,427-45.5% | $2,757+27.0% |
| Participant deferral / active EE | $8,255 | $7,076+16.7% | $9,133-9.6% | $4,299+92.0% |
| Admin fee / account holder | $14,290 | $10,489+36.2% | $13,898+2.8% | $6,924+106.4% |