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 | $69,733-36.0% | $299,830-85.1% | $69,733-36.0% |
| Participation rate | 30.4% | 62.5%-32.0pp | 78.5%-48.1pp | 62.5%-32.0pp |
| Annual return | 16.92% | 15.22%+1.7pp | 10.58%+6.3pp | 15.22%+1.7pp |
| Employer contribution / active EE | $659 | $2,250-70.7% | $5,842-88.7% | $2,250-70.7% |
| Participant deferral / active EE | $2,059 | $3,054-32.6% | $7,038-70.7% | $3,054-32.6% |
| Admin fee / account holder | $6,443 | $3,102+107.7% | $50,982-87.4% | $3,102+107.7% |