Filed August 23, 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 | $71,252 | $87,465-18.5% | $122,979-42.1% | $65,306+9.1% |
| Participation rate | 62.0% | 66.0%-4.0pp | 77.2%-15.2pp | 57.7%+4.3pp |
| Annual return | 17.42% | 19.76%-2.3pp | 20.12%-2.7pp | 21.94%-4.5pp |
| Employer contribution / active EE | $1,248 | $2,156-42.1% | $3,062-59.3% | $1,967-36.6% |
| Participant deferral / active EE | $3,406 | $3,705-8.1% | $5,003-31.9% | $2,959+15.1% |
| Admin fee / account holder | $6,917 | $5,100+35.6% | $12,864-46.2% | $3,480+98.8% |