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 | $51,318 | $65,361-21.5% | $92,903-44.8% | $72,983-29.7% |
| Participation rate | 59.0% | 68.3%-9.3pp | 76.0%-17.0pp | 69.5%-10.5pp |
| Annual return | 13.23% | 42.11%-28.9pp | 109.43%-96.2pp | 81.01%-67.8pp |
| Employer contribution / active EE | $1,118 | $2,594-56.9% | $3,653-69.4% | $2,440-54.2% |
| Participant deferral / active EE | $2,387 | $3,128-23.7% | $4,238-43.7% | $3,608-33.8% |
| Admin fee / account holder | $2,334 | $4,251-45.1% | $5,795-59.7% | $5,124-54.5% |