Filed November 22, 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.)
Annual investment return is in the bottom quintile of the peer cohort.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $93,920 | $53,777+74.6% | $134,155-30.0% | $79,858+17.6% |
| Participation rate | 68.8% | 58.8%+10.0pp | 72.2%-3.4pp | 69.6%-0.9pp |
| Annual return | 8.08% | 19.01%-10.9pp | 36.34%-28.3pp | 31.72%-23.6pp |
| Employer contribution / active EE | $1,169 | $1,321-11.5% | $3,705-68.4% | $2,471-52.7% |
| Participant deferral / active EE | $3,641 | $2,420+50.4% | $3,500+4.0% | $3,740-2.7% |
| Admin fee / account holder | $20,107 | $3,984+404.7% | $6,685+200.8% | $5,306+278.9% |