Filed October 14, 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 | $15,956 | $65,092-75.5% | $143,799-88.9% | $66,938-76.2% |
| Participation rate | 40.4% | 65.2%-24.8pp | 80.3%-39.9pp | 69.8%-29.4pp |
| Annual return | -3.57% | -11.14%+7.6pp | -0.04%-3.5pp | 1.58%-5.1pp |
| Employer contribution / active EE | $1,089 | $2,362-53.9% | $4,952-78.0% | $2,545-57.2% |
| Participant deferral / active EE | $1,708 | $2,920-41.5% | $5,638-69.7% | $4,238-59.7% |
| Admin fee / account holder | $386 | $502-23.1% | $14,677-97.4% | $594-34.9% |