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.)
Annual investment return is in the bottom quintile of the peer cohort.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $17,958 | $76,912-76.7% | $129,118-86.1% | $68,486-73.8% |
| Participation rate | 47.9% | 69.1%-21.2pp | 77.2%-29.3pp | 67.9%-20.0pp |
| Annual return | -20.04% | -9.78%-10.3pp | -10.94%-9.1pp | -7.85%-12.2pp |
| Employer contribution / active EE | $1,369 | $3,243-57.8% | $5,051-72.9% | $2,597-47.3% |
| Participant deferral / active EE | $3,385 | $4,732-28.5% | $6,539-48.2% | $4,028-16.0% |
| Admin fee / account holder | $720 | $6,638-89.2% | $14,305-95.0% | $5,404-86.7% |