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 | $43,545 | $56,894-23.5% | $84,753-48.6% | $62,881-30.7% |
| Participation rate | 58.7% | 68.5%-9.9pp | 76.6%-17.9pp | 69.3%-10.6pp |
| Annual return | 4.52% | 6.30%-1.8pp | 22.78%-18.3pp | 20.14%-15.6pp |
| Employer contribution / active EE | $1,045 | $2,400-56.5% | $3,574-70.8% | $2,281-54.2% |
| Participant deferral / active EE | $2,491 | $2,709-8.1% | $3,712-32.9% | $3,203-22.2% |
| Admin fee / account holder | $442 | $3,581-87.6% | $5,333-91.7% | $4,296-89.7% |