Filed August 8, 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 | $63,778 | $69,977-8.9% | $108,582-41.3% | $62,881+1.4% |
| Participation rate | 67.6% | 72.9%-5.2pp | 79.6%-11.9pp | 69.3%-1.7pp |
| Annual return | 6.49% | 10.73%-4.2pp | -51.70%+58.2pp | 20.14%-13.7pp |
| Employer contribution / active EE | $859 | $2,135-59.7% | $3,758-77.1% | $2,281-62.3% |
| Participant deferral / active EE | $2,058 | $3,165-35.0% | $4,311-52.3% | $3,203-35.7% |
| Admin fee / account holder | $1,430 | $5,076-71.8% | $7,645-81.3% | $4,296-66.7% |