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.)
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $75,545 | $80,674-6.4% | $119,126-36.6% | $64,340+17.4% |
| Participation rate | 48.2% | 55.2%-7.0pp | 75.8%-27.6pp | 55.2%-7.1pp |
| Annual return | 12.95% | 26.86%-13.9pp | 282.11%-269.2pp | 24.14%-11.2pp |
| Employer contribution / active EE | $1,230 | $2,564-52.0% | $4,034-69.5% | $1,862-34.0% |
| Participant deferral / active EE | $2,930 | $3,053-4.0% | $5,318-44.9% | $2,980-1.7% |
| Admin fee / account holder | $7,149 | $4,559+56.8% | $10,693-33.1% | $3,703+93.1% |