Filed November 22, 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 | $26,385 | $48,570-45.7% | $130,660-79.8% | $72,975-63.8% |
| Participation rate | 62.9% | 58.6%+4.3pp | 71.7%-8.9pp | 69.5%-6.6pp |
| Annual return | 22.94% | 38.63%-15.7pp | 1709.29%-1686.4pp | 81.01%-58.1pp |
| Employer contribution / active EE | $1,012 | $1,334-24.2% | $4,092-75.3% | $2,440-58.5% |
| Participant deferral / active EE | $3,240 | $2,384+35.9% | $3,603-10.1% | $3,608-10.2% |
| Admin fee / account holder | $2,869 | $3,549-19.2% | $5,463-47.5% | $5,124-44.0% |