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.)
Annual investment return is in the bottom quintile of the peer cohort.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $16,128 | $155,555-89.6% | $146,866-89.0% | $155,188-89.6% |
| Participation rate | 62.5% | 84.0%-21.5pp | 82.5%-20.0pp | 80.8%-18.3pp |
| Annual return | 4.38% | 115.41%-111.0pp | 102.85%-98.5pp | 148.84%-144.5pp |
| Employer contribution / active EE | $1,656 | $4,647-64.4% | $4,425-62.6% | $4,248-61.0% |
| Participant deferral / active EE | $2,997 | $8,044-62.7% | $7,759-61.4% | $6,531-54.1% |
| Admin fee / account holder | $10,937 | $14,755-25.9% | $13,620-19.7% | $14,480-24.5% |