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 | $23,953 | $53,774-55.5% | $134,162-82.1% | $79,852-70.0% |
| Participation rate | 62.5% | 58.8%+3.7pp | 72.2%-9.7pp | 69.6%-7.1pp |
| Annual return | 14.37% | 19.01%-4.6pp | 36.35%-22.0pp | 31.72%-17.4pp |
| Employer contribution / active EE | $1,027 | $1,322-22.3% | $3,705-72.3% | $2,471-58.4% |
| Participant deferral / active EE | $2,401 | $2,420-0.8% | $3,500-31.4% | $3,740-35.8% |
| Admin fee / account holder | $8,277 | $3,985+107.7% | $6,685+23.8% | $5,306+56.0% |