Filed December 22, 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 | $45,298 | $77,638-41.7% | $156,551-71.1% | $62,881-28.0% |
| Participation rate | 55.4% | 71.2%-15.8pp | 84.0%-28.6pp | 69.3%-13.9pp |
| Annual return | 6.51% | 50.33%-43.8pp | 32.23%-25.7pp | 20.14%-13.6pp |
| Employer contribution / active EE | $1,566 | $3,444-54.5% | $5,501-71.5% | $2,281-31.3% |
| Participant deferral / active EE | $2,512 | $3,046-17.5% | $4,871-48.4% | $3,203-21.6% |
| Admin fee / account holder | $2,985 | $5,561-46.3% | $13,028-77.1% | $4,296-30.5% |