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 | $65,072-48.5% | $66,439-49.6% | $65,306-48.7% |
| Participation rate | 60.9% | 69.1%-8.2pp | 74.5%-13.6pp | 57.7%+3.2pp |
| Annual return | 16.17% | 21.50%-5.3pp | 757.66%-741.5pp | 21.94%-5.8pp |
| Employer contribution / active EE | $1,354 | $2,475-45.3% | $2,637-48.6% | $1,967-31.2% |
| Participant deferral / active EE | $2,599 | $3,234-19.7% | $3,876-33.0% | $2,959-12.2% |
| Admin fee / account holder | $1,144 | $1,323-13.5% | $6,173-81.5% | $3,480-67.1% |