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 | $43,048 | $84,236-48.9% | $170,435-74.7% | $70,126-38.6% |
| Participation rate | 56.3% | 70.8%-14.6pp | 83.6%-27.3pp | 69.5%-13.3pp |
| Annual return | 13.42% | 23.06%-9.6pp | 205.94%-192.5pp | 73.15%-59.7pp |
| Employer contribution / active EE | $1,437 | $3,387-57.6% | $5,432-73.5% | $2,343-38.6% |
| Participant deferral / active EE | $2,729 | $3,086-11.6% | $4,939-44.7% | $3,332-18.1% |
| Admin fee / account holder | $8,246 | $5,698+44.7% | $13,881-40.6% | $4,645+77.5% |