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 | $47,524 | $63,346-25.0% | $92,240-48.5% | $70,126-32.2% |
| Participation rate | 64.8% | 68.7%-3.9pp | 76.5%-11.7pp | 69.5%-4.8pp |
| Annual return | 7.30% | 530.19%-522.9pp | 176.29%-169.0pp | 73.15%-65.8pp |
| Employer contribution / active EE | $1,150 | $2,471-53.5% | $3,680-68.7% | $2,343-50.9% |
| Participant deferral / active EE | $2,696 | $2,854-5.5% | $3,897-30.8% | $3,332-19.1% |
| Admin fee / account holder | $887 | $3,841-76.9% | $5,194-82.9% | $4,645-80.9% |