Filed October 16, 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.)
Annual investment return is in the bottom quintile of the peer cohort.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $75,545 | $83,369-9.4% | $105,223-28.2% | $67,986+11.1% |
| Participation rate | 48.2% | 56.3%-8.1pp | 75.0%-26.9pp | 57.2%-9.0pp |
| Annual return | 12.95% | 24.64%-11.7pp | 180.65%-167.7pp | 31.67%-18.7pp |
| Employer contribution / active EE | $1,230 | $2,541-51.6% | $3,689-66.7% | $2,019-39.1% |
| Participant deferral / active EE | $2,930 | $3,295-11.1% | $5,072-42.2% | $3,358-12.7% |
| Admin fee / account holder | $7,149 | $4,073+75.5% | $8,859-19.3% | $3,203+123.2% |