Filed October 21, 2022
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer contribution per participant is in the bottom quintile of the peer cohort.
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 | $68,868-35.2% | $183,328-75.7% | $67,986-34.3% |
| Participation rate | 30.4% | 57.0%-26.6pp | 77.3%-46.9pp | 57.2%-26.8pp |
| Annual return | 16.92% | 28.80%-11.9pp | 29.67%-12.8pp | 31.67%-14.7pp |
| Employer contribution / active EE | $659 | $2,917-77.4% | $5,055-87.0% | $2,019-67.3% |
| Participant deferral / active EE | $2,059 | $4,364-52.8% | $6,795-69.7% | $3,358-38.7% |
| Admin fee / account holder | $6,443 | $3,805+69.3% | $21,427-69.9% | $3,203+101.1% |