Filed October 21, 2022
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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 | $44,634 | $50,534-11.7% | $213,469-79.1% | $64,340-30.6% |
| Participation rate | 30.4% | 46.3%-15.9pp | 77.1%-46.7pp | 55.2%-24.8pp |
| Annual return | 16.92% | 38.98%-22.1pp | 20.58%-3.7pp | 24.14%-7.2pp |
| Employer contribution / active EE | $659 | $1,419-53.5% | $4,994-86.8% | $1,862-64.6% |
| Participant deferral / active EE | $2,059 | $2,901-29.0% | $6,841-69.9% | $2,980-30.9% |
| Admin fee / account holder | $6,443 | $4,263+51.1% | $27,141-76.3% | $3,703+74.0% |