Filed October 18, 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 | $71,656 | $76,551-6.4% | $123,894-42.2% | $62,881+14.0% |
| Participation rate | 66.7% | 73.0%-6.3pp | 81.4%-14.7pp | 69.3%-2.6pp |
| Annual return | 7.00% | 18.68%-11.7pp | 47.52%-40.5pp | 20.14%-13.1pp |
| Employer contribution / active EE | $1,357 | $2,882-52.9% | $4,617-70.6% | $2,281-40.5% |
| Participant deferral / active EE | $4,715 | $4,840-2.6% | $5,984-21.2% | $3,203+47.2% |
| Admin fee / account holder | $10,066 | $4,826+108.6% | $8,357+20.5% | $4,296+134.3% |