Filed March 3, 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 | $33,510 | $63,433-47.2% | $63,803-47.5% | $64,097-47.7% |
| Participation rate | 60.9% | 65.0%-4.1pp | 72.7%-11.8pp | 55.2%+5.7pp |
| Annual return | 16.17% | 20.74%-4.6pp | 543.72%-527.5pp | 34.64%-18.5pp |
| Employer contribution / active EE | $1,354 | $2,332-41.9% | $2,532-46.5% | $1,891-28.4% |
| Participant deferral / active EE | $2,599 | $3,119-16.7% | $3,843-32.4% | $3,080-15.6% |
| Admin fee / account holder | $1,144 | $1,489-23.2% | $5,196-78.0% | $3,454-66.9% |