Filed March 24, 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 | $59,480 | $37,134+60.2% | $100,671-40.9% | $52,331+13.7% |
| Participation rate | 66.0% | 57.7%+8.4pp | 70.7%-4.7pp | 68.1%-2.1pp |
| Annual return | 0.75% | 0.10%+0.6pp | 20.43%-19.7pp | 4.54%-3.8pp |
| Employer contribution / active EE | $1,137 | $1,187-4.2% | $4,012-71.7% | $1,882-39.6% |
| Participant deferral / active EE | $2,056 | $2,163-5.0% | $3,144-34.6% | $3,022-32.0% |
| Admin fee / account holder | $4,291 | $467+819.1% | $4,850-11.5% | $592+625.4% |