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 | $66,335 | $80,781-17.9% | $102,437-35.2% | $74,478-10.9% |
| Participation rate | 46.8% | 65.7%-18.8pp | 74.5%-27.7pp | 67.2%-20.4pp |
| Annual return | 9.91% | 27.58%-17.7pp | 24.95%-15.0pp | 1370.56%-1360.7pp |
| Employer contribution / active EE | $1,206 | $3,160-61.8% | $3,871-68.9% | $2,626-54.1% |
| Participant deferral / active EE | $2,802 | $3,862-27.5% | $5,060-44.6% | $4,350-35.6% |
| Admin fee / account holder | $1,349 | $2,372-43.1% | $8,388-83.9% | $1,946-30.7% |